Partner Derek Adams will serve as a panelist for a presentation offered by the Federal Bar Association’s Qui Tam Section discussing Department of Justice actions against banks and fintechs related to fraudulent pandemic-relief loans, on September 20 from 12:00 p.m. to 1:30 p.m. (EST).
The panel will examine DOJ’s response to date involving borrower liability as well as the possibility of DOJ action against financial institutions and fintechs that processed pandemic-relief loans. Last December, a congressional investigation outlined potential misconduct by fintechs whose loans had a significantly higher rate of fraud. Panelists will discuss DOJ’s response to pandemic fraud so far and what implications that response may have for future actions. They will also analyze whether DOJ might allege that financial institutions’ processing of pandemic-relief loans violated the Bank Secrecy Act.
All of the panelists are seasoned financial fraud practitioners, having pursued and/or defended cases stemming from the financial crisis for much of the prior decade. The panel includes Jamie Ann Yavelberg, Director of the Civil Fraud Section, U.S. Department of Justice, Caleb Hayes-Deats, MoloLamken; Julie Keeton Bracker, Bracker & Marcus; and Katherine Brockway Katz, Cooley.