▲ 0 r/EIDL
How does the 10 year Statue of Limitations on fraud work for mis-use of EIDL funds?
Many (most?) who received an EIDL loan didn't use the funds appropriately. The invested the money, or used it for personal use, etc. There is a 10 year Statue of Limitations on fraud - does "fraud" include misappropriation of funds?
Can a business owner who knows they didn't use the funds correctly wait until the 10th year to then default in order to take fraud off the table?
OR - is there NO S.O.L in such a case?
u/SignificanceDull9092 — 4 days ago