Vix Technology Group recently agreed to pay $2.1 million to settle a fraud case alleging Vix made false claims on its application for a low-interest Covid relief loan. Vix CEO Aaron Ross insisted to Mobility Payments that the damages will have “no impact” on the company’s “current operations or financial position.”
The settlement stems from a lawsuit filed last June by a whistleblower, which stood to gain a share of the damages, alleging that Vix had violated the U.S. False Claims Act when it applied for its second government-backed Covid Paycheck Protection Program (PPP) loan in 2021.