SEATTLE — The U.S. Attorney’s Office says it has settled with three companies accused of applying for and using millions in Paycheck Protection Program (PPP) loans that they weren’t qualified for. companies
Lotte Duty Free Guam LLC will pay the federal government $3,437,549 in a settlement.
UMBRAGROUP S.p.A., a company based in Everett, will pay $1,424,996 to the federal government to settle the claims.
Both companies had too many employees to qualify for the loans.
Podworks Corporation applied for and was given PPP loans even though some of its business involved cannabis sales.
Federal law bans businesses that are involved with cannabis sales from qualifying for PPP loans. The company will have to pay the government $632,958.
The attorney’s office says companies were ordered to pay back $5.4 million in restitution and penalties.
They also said the settlements were not an admission of guilt by the companies.
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