Compliance Round-Up: City Bar Series on COVID-19’s Impact on Ethics and Compliance

(Webinar) CARES Act Fraud Enforcement is Here: What Borrowers Under the COVID-19 Financial Relief Programs Need to Know to Mitigate Regulatory Risks

Originally held on Wednesday, July 22, 2020 | 11:00 am – 12:30 pm

• Description
• Agenda
• Faculty
• CLE Credit
• Sponsors

• Since March 2020, the federal government has committed trillions of dollars to COVID-19 financial relief programs. Hundreds of billions of dollars in forgivable loans have been distributed to small businesses under the CARES Act Paycheck Protection Program and hundreds more are or will be available to other businesses through other CARES Act lending programs, such as the Main Street Lending Program and the Economic Injury Disaster Loan Program. Yet another multi-trillion dollar stimulus package appears to be on the way.

  The government has already brought several investigations and fraud actions against borrowers for alleged CARES Act loan abuse. Now that the Special Inspector General for Pandemic Recovery has been appointed, the pace of fraud investigations and enforcement actions only will increase.

  In an update to their May 5 webinar where they introduced the CARES Act loan programs and cautioned borrowers to expect strict government oversight and increased enforcement activity, Alixandra Smith, Chief of the Business and Securities Fraud Section of the U.S. Attorney’s Office for the Eastern District of New York, George Stamboulidis, co-head of BakerHostetler’s White Collar practice, and Frances McLeod, Founding Partner of Forensic Risk Alliance, will cover the latest developments under the CARES Act loan programs and how borrowers can avoid being the next target of a fraud investigation or prosecution.

  Program topics will include:

  • Key legislative updates and regulatory guidance regarding the CARES Act loan programs since May 5^th
  • Review and analysis of the fraud investigations and criminal actions for alleged CARES Act loan abuse to date and what to expect from the government going forward
  • Proactive compliance measures that borrowers can still take to mitigate regulatory risk.

  Please note: This program will consist of audio-only instruction by the faculty, along with a visual aid presentation.

  Program Fee:
  $49 For Members | $99 For Nonmembers

  Members who are Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2018-2020), In-House/Corporate Counsel, Judges, or attorneys that practice within the Government, Academic or Not-for-Profit sectors attend this program for free.

• 11:00 am – 11:10 am
  Introduction

  11:10 am – 11:25 am
  Key Legislative Updates and Regulatory Guidance Regarding the CARES Act Loan Programs Since May 5, 2020

  11:25 am – 11:40 am
  Analysis of Fraud Investigations and Prosecutions Against Borrowers for Alleged CARES Act Loan Abuse to Date
  
  11:40 am – 12:05 pm
  Expectations for Fraud Investigations and Prosecutions Going Forward

  12:05 pm – 12:20 pm
  Best Practices for Borrowers to Mitigate Regulatory Risks

  12:20 pm – 12:30 pm
  Conclusion and Q&A

• Frances McLeod
  Founding Partner
  Forensic Risk Alliance

  Alixandra Smith
  Chief, Business and Securities Fraud Section
  U.S. Attorney’s Office for the Eastern District of N.Y.

  George A. Stamboulidis
  BakerHostetler
  Former Chief, Long Island Division
  U.S. Attorney’s Office for the Eastern District of N.Y.

• CLE Credit
  New York: 1.5 Professional Practice
  New Jersey: 1.6 General
  California: 1.0 General
  Pennsylvania: 1.0 General
  Connecticut: Available to Licensed Attorneys

• Sponsoring Association Committees:
  Compliance, Patrick T. Campbell, Chair

  Co-Sponsoring Association Committee:
  White Collar Crime, Michael P. Schachter, Chair

  Sponsorship Opportunities are Available! Please Contact:
  Angie Avila, Manager, Membership Outreach and Sponsorships | (212) 382-6608 | aavila@nycbar.org

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