San Mateo-based technology services company Fujisoft America has agreed to pay $1,050,000 to resolve allegations it lied about its business to obtain $400,000 in forgivable emergency pandemic loans, federal officials announced Friday.
As part of the settlement with the U.S. Department of Justice, the company admitted it knew it didn’t qualify for the two Paycheck Protection Program loans because it had more than 500 employees and lied about its company size to have the loans forgiven, officials said. The company also admitted it falsely claimed it saw a decrease in revenue of more than 25% during the pandemic to get one of the loans.
Fujisoft America’s parent company, Fujisoft, is publicly traded in Japan and has over 15,000 employees across its various subsidiaries.