LS Cable & System to Pay $4M to Resolve Allegations of False Claims for Paycheck Protection Program Payments

A cable company in Edgecombe County will pay the federal government $4 million to resolve allegations of false claims for Paycheck Protection Program payments, prosecutors said.

According to the Office of the United States Attorney for the Eastern District of North Carolina, LS Cable & System USA, Inc. of Tarboro is accused of knowingly misrepresenting the number of its employees and affiliated personnel to unlawfully seek and obtain more than $2 million in PPP loan funds and loan forgiveness.

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