CHARLOTTE, N.C. (QUEEN CITY NEWS) – Charlotte company Okaya Shinnichi Corporation of America was ordered to pay nearly $1.2 million regarding allegations that fraudulently obtained COVID-era federal loans.
The U.S. Attorney’s Office of Western North Carolina alleged that the steel tubing manufacturer provided false information to obtain a Paycheck Protection Program loan for which it was not eligible.
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This settlement resolves allegations that Okaya, located off of Nations Ford Road in southwest Charlotte, misrepresented that it was a small business with less than 300 employees among all affiliates on its application for a second-round PPP loan of $478,568.67.
Instead, the lawsuit alleged, Okaya was the jointly held U.S. subsidiary of two Japanese corporations, and had multiple affiliates worldwide, totaling well over the 300-employee limit for the second-round loans…