Fairfax (Va.) Radiological Consultants has agreed to pay $2.88 million to resolve allegations it misrepresented payroll costs to obtain full forgiveness of a $6.8 million Paycheck Protection Program loan, according to an April 2 news release from the Justice Department.
What happened?
- The group employed over 500 people in 2019, allowing it to qualify for a $6.8 million PPP loan in April 2020. However, by the time of the application, the group had fewer than 100 employees.
- In April 2021, FRC applied for full loan forgiveness, allegedly inflating its payroll data for 98 employees. Prosecutors say the group was only eligible for $4.95 million in loan forgiveness but received the full amount by falsely reporting payroll figures.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.