Tag: sark wire
Sark Wire Corporation, PPP Loan Fraud, Albany NY, 2023
Albany manufacturer Sark Wire Corporation is facing a hefty $1.9 million penalty after admitting to a calculated scheme to defraud the Paycheck Protection Program (PPP), a cornerstone of the federal government’s pandemic relief efforts. The company, a subsidiary of a Turkish conglomerate, deliberately concealed its international ties to illegally secure a second-draw loan intended for…
Sark Wire Corporation, PPP Loan Fraud, New York 2020
⏱ 3 min read Albany manufacturer Sark Wire Corporation is on the hook for $1.9 million after admitting they cooked the books to grab COVID-19 relief money. Back in 2020, when the CARES Act was supposed to be a lifeline for struggling businesses, Sark Wire allegedly lied about its size to qualify for Paycheck Protection…
