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Cold Spring company settles with feds after alleged PPP loan fraud
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Cold Spring company settles with feds after alleged PPP loan fraud
Cold Spring-based machine parts manufacturer Segepo-FSM has agreed to pay $887,234 in a settlement with the federal government after being accused of falsifying an application for a Paycheck Protection Program, or PPP, Loan, according to an announcement from the Department of Justice released Monday. PPP loans were created to help small businesses ride out the economic downturns brought about by the COVID-19 pandemic and subsequent lockdowns. El…
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