LS Cable Settles PPP Fraud Allegations | Raleigh News

LS Cable & System USA, Inc. is paying $4 million to settle allegations it lied about employee numbers to fraudulently obtain over $2 million in PPP loans and forgiveness — a move that could net the government triple the amount plus penalties, with a whistleblower potentially getting a cut. The company denies wrongdoing and is avoiding a trial, while the Eastern District of North Carolina’s U.S. Attorney’s Office led the investigation. This settlement resolves the specific claims — no guilty verdicts yet. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/47628d0b646b4b30