An Albany-based manufacturer will pay $1.9 million to settle federal allegations it improperly obtained a pandemic relief loan, according to the U.S. Attorney’s Office.
Sark Wire Corporation agreed to the settlement to resolve claims it violated the False Claims Act by applying for and receiving a Paycheck Protection Program (PPP) loan despite being ineligible.
Federal prosecutors said PPP rules required companies to include employees of foreign affiliates when determining eligibility. Investigators found Sark Wire failed to do so…