Northern Kentucky Manufacturer Settles PPP Loan Dispute
Dayton News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Northern Kentucky manufacturer, Segepo-FSM, Incorporated, agrees to pay $887,234 to settle claims of wrongfully obtaining a federal loan during the pandemic. The company, based in Cold Spring, certified fewer than 300 employees to qualify for a second-draw Paycheck Protection Program loan, but was part of a larger corporate group exceeding the limit. The loan was approved and fully forgiven based on false statements. This case resulted from a whistleblower lawsuit under the False Claims Act, emphasizing ongoing efforts to hold accountable those misusing pandemic relief funds.
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