SOUTHWICK, MA (WGGB/WSHM) – A Southwick company has agreed to pay $2 million to resolve allegations of PPP loan fraud, according to the U.S. Attorney General’s Office for Massachusetts.
Kokusai Denki Electric America, before known as Hitachi, Kokusai Electric comark is headquartered in Southwick.
As part of the settlement, Comark admitted to receiving a $1.3 million PPP loan in January 2021, meant to be used as financial assistance during the covid pandemic.
the company reported having 67 employees in order to qualify for the loan and for loan forgiveness from the federal government, but Comark had more than 300 employees.
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