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Administration Turning Attention to Banks in PPP Fraud Probe

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Adam Braverman spoke to S&P Global Market Intelligence about banks facing greater scrutiny as the Biden administration shifts the focus of its Paycheck Protection Program fraud probe toward lenders.



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Adam Braverman spoke to S&P Global Market Intelligence about banks facing greater scrutiny as the Biden administration shifts the focus of its Paycheck Protection Program fraud probe toward lenders.According to Adam, partnerships enable agencies to use data analytics more effectively to find fraud. He added that the administration is also taking more action under the False Claims Act, a tool that the Department of Justice uses to unearth fraud in government programs.

Administration Turning Attention to Banks in PPP Fraud Probe

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Adam L. Braverman is a partner in Morrison Foerster’s Investigations + White Collar Defense and Commercial Litigation + Trial Groups. Adam formerly served as an Associate Deputy Attorney General for the U.S. Department of Justice (DOJ) and as the U.S. Attorney for the Southern District of California.Adam represents companies and their executives in internal and government investigations, white collar criminal defense matters, and parallel civil litigation related to allegations of bribery, government procurement fraud, COVID-19 and CARES Act fraud, and anti-money laundering violations. He has particular experience representing clients in the government contracting, healthcare, life sciences, and professional sports sectors, including in internal and government-facing investigations related to the False Claims Act (FCA) and Anti-Kickback Statute (AKS), procurement fraud, bribery, national security, and disclosure obligations related to promoting foreign interests, among other issues. Adam also designs compliance policies on behalf of corporate clients and conducts trainings to ensure best practices in light of recent revisions to DOJ’s Evaluation of Corporate Compliance Programs and Corporate Criminal Enforcement Policies.Additionally, Adam advises on all aspects of complex commercial litigation in federal and state trial and appellate courts and in arbitration. He has represented clients in actions involving breach of contract and a wide array of complex commercial disputes.Before joining MoFo, Adam spent 13 years at DOJ, where he served in senior-level leadership positions in multiple administrations. As an Associate Deputy Attorney General, he advised the Deputy Attorney General on litigation and policy matters and was designated to coordinate DOJ’s efforts to investigate and prosecute fraud in connection with COVID-19 and CARES Act relief funds. During his tenure, he worked closely with all of DOJ’s law enforcement agencies, other federal agencies, INTERPOL, and the Organized Crime Drug Enforcement Task Force, as well as state and local law enforcement associations.Adam also served as U.S. Attorney for the Southern District of California, where he managed one of the largest and busiest U.S. Attorney’s Offices in the country, comprised of nearly 300 employees. In this role, Adam was responsible for enforcing all violations of federal law in the District and defending the nation in all civil lawsuits. Prior to becoming U.S. Attorney, Adam was an Assistant U.S. Attorney and Deputy Chief, leading complex investigations and prosecutions of large-scale international criminal organizations. Prior to joining the government, Adam was an associate at a leading global law firm, where he dedicated his practice to civil litigation, white collar criminal cases, and internal investigations.Adam received his J.D. from the George Washington University School of Law and his B.A., cum laude, from the George Washington University.<h4>Representative Experience</h4><ul><li>A major U.S. defense contractor in an FCA matter involving allegations of fraudulent billing and workplace misconduct by a former employee.</li><li>A small U.S. defense contractor in an FCA matter involving allegations of fraudulent billing and misrepresentations on grant applications.</li><li>An international defense contractor in a DOJ criminal investigation of allegations of bribery, wire fraud, and money laundering, as well as a civil investigation involving the FCA and allegations of fraudulent billing.</li><li>A major U.S. defense contractor in an internal investigation involving allegations of U.S. sanctions violations.</li><li>A healthcare organization in an FCA matter involving kickback allegations.</li><li>A medical device company in an internal investigation involving FCA kickback allegations.</li><li>Private equity firms in an FCA matter involving allegations of fraudulent billing.</li><li>An individual investigated by DOJ for alleged violations of International Traffic in Arms Regulations.</li><li>A public company in a Securities Exchange Act Section 14(a) challenge to a proxy statement alleging material omissions. </li><li>A professional sports team in a government investigation.</li><li>A property management company in a class action matter.</li><li>Corporate clients in undertaking compliance risk assessments and providing related counseling.</li></ul>

Adam Braverman

Partner

Investigations + White Collar Defense