PITTSBURGH, PA, June 12, 2025 /24-7PressRelease/ -- The Law Offices of Darth M. Newman, LLC celebrates its latest achievement in whistleblower advocacy, having successfully represented relator Zachary Holtzman in a False Claims Act case that resulted in a $1.5 million settlement with a Pennsylvania Small Business Investment Company ("SBIC") and its affiliate, following allegations of improper Paycheck Protection Program (PPP) loan use.

Under the terms of the settlement announced June 5, 2025, the defendants—Argosy Investment Partners V, L.P., its parallel affiliate, and a portfolio company (AIP‑ECS)—agreed to pay $1.5 million to the United States. The settlement resolves after federal allegations that AIP‑ECS received a second‑draw PPP loan of $1,205,352, exceeding allowable limits in a single corporate group and thereby violating the CARES Act.

This case began as qui tam action, formally captioned United States ex rel. Zachary Holtzman v. Argosy Capital Company, LLC, et al. (Civil Action No. 24‑8318).

"The success of this case demonstrates the vital role whistleblowers play in protecting public funds," said Darth Newman, Esq., principal attorney at the Law Offices of Darth M. Newman. "We are deeply proud to have helped ensure accountability and to champion Mr. Holtzman's courage in stepping forward."

This outcome serves as a reminder of the significant legal responsibilities businesses bear when utilizing federal relief programs and the mechanisms in place to deter misuse. The Law Offices of Darth M. Newman remains steadfast in its commitment to aiding whistleblowers, ensuring compliance, and upholding justice.

Located in Pittsburgh, Pennsylvania, the Law Offices of Darth M. Newman, LLC focuses on whistleblower and qui tam cases under the False Claims Act. Representing individuals who expose fraud against the government across the Country, the firm is dedicated to fostering public accountability and safeguarding taxpayer interests. If you know about fraud against the government, contact us today for a free and confidential consultation.

412-436-3443
darth@dnewmanlaw.com

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