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July 10, 2020
The Chicago Tribune
In an article published on July 10, 2020 in The Chicago Tribune, Nekia Hackworth Jones discusses the proper use of the Paycheck Protection Program for U.S. businesses and the necessary measures and accountability that need to be put in place.
“While the government will keep an eye on the bigger fish, banks also monitor suspicious activity and sometimes a tipster, like a former employee, alerts authorities to shady use of funds, said Nekia Hackworth Jones, a former U.S. assistant state’s attorney and fraud investigator who now leads the white-collar defense and government investigations practice in the Atlanta office of law firm Nelson Mullins Riley and Scarborough.”
Hackworth Jones said the documentation requirements that banks received from the Small Business Administration were much more lenient than the requirements for the SBA programs.
“She expects accountability to come at the back end with the loan forgiveness applications and audits. She is advising clients to put their PPP loans in a separate bank account, spend the money via electronic means so there is a record of where it went, and keep documentation readily available.”
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