July 20, 2024
Loans

Pine Mountain Lake Association settles lawsuit over unlawful PPP loans | News


The Pine Mountain Lake Association has agreed to settle a lawsuit brought against it on behalf of the United States government alleging that it improperly applied for and received more than $1.6 million in COVID-19 relief funds for which it was not eligible.

An official letter sent out by the PMLA Board of Directors dated Dec. 22, a copy of which was provided Thursday to The Union Democrat by PML resident Peter Natale, states the lawsuit alleged that the homeowners’ association violated the federal False Claims Act by obtaining two loans through the Paycheck Protection Program, which was designed to help businesses and nonprofit organizations keep their workforce employed during the COVID-19 pandemic.



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