Continental Aerospace Technology Pays Over $11.77 Million to Settle PPP Loan Case
Continental Aerospace Technology Company, a mainland aviation technology firm under China's state-owned Aviation Industry Corporation of China (AVIC), has agreed to pay more than $11.77 million to settle a False Claims Act case in which it was accused of improperly applying for US Paycheck Protection Program (PPP) loans for small and medium-sized enterprises during the COVID-19 pandemic.