Securiport and Alex Stewart Agree to US$1.82 Million Civil PPP Settlement

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Securiport Limited Liability Company and Alex Stewart International agreed to pay a combined US$1,816,943 to settle civil allegations involving US Paycheck Protection Program loans, the Justice Department announced on 21 October 2026.

The Eastern District of Virginia said the issue concerned applications for Second Draw PPP loans, which carried a 300-employee eligibility threshold when employees of relevant affiliates were counted. The government alleged that the companies incorrectly certified they satisfied the requirement and later obtained loan forgiveness.

The case began with a whistleblower lawsuit filed under the False Claims Act, identified as United States ex rel. Verity Investigations, LLC v. Securiport Limited Liability Company, case No. 1:25-cv-2027. The whistleblower was to receive 10% of the government’s recovery.

The companies separately described the settlement as resolving an eligibility disagreement involving how certain personnel should be counted. They stressed that the payment involved no admission of wrongdoing.

The Justice Department explicitly said the civil claims settled were allegations only and that no civil liability had been determined. The settlement should not be described as a criminal conviction or proof that every assertion in the complaint was established.