Chilean-Owned Plastics Company in Tennessee Agrees to Pay $2.25 Million over PPP Loan with Alleged Failure to Count Foreign Workers
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Tom Pappert (via Tennessee Star)
The U.S. Department of Justice (DOJ) announced on Friday that a Chilean-owned plastics company in Knoxville, America Plastics, has agreed to repay about $2.25 million to settle allegations that it failed to count foreign workers in its application for a Paycheck Protection Program (PPP) loan during the COVID-19 pandemic.
According to the DOJ, America Plastics obtained a PPP loan, as well as debt forgiveness, despite not being entitled to the loan due to a failure "to include employees of its foreign parent and foreign affiliates," which if included, "would have exceeded the 300-employee size limitation applicable to second-draw PPP loans and would not have been eligible to receive the loan."
