Houston-based ocean bottom seismic services provider Magseis FF LLC has agreed to pay over $4 million to resolve claims that it misrepresented its employee count to secure Paycheck Protection Program loans in March 2021. The allegations focused on the company inflating its eligibility under the CARES Act, which requires small businesses to meet specific employee thresholds, according to the U.S. Attorney’s Office.
Magseis is part of Norway-based Magseis Fairfield ASA, known for 3D and 4D seismic solutions in oil and gas exploration, and was a subsidiary of Magseis FF AS in 2020–2021. The company reportedly misstated employee numbers across its affiliates to qualify for the Paycheck Protection Program loan and later loan forgiveness, as reported by the U.S. Attorney’s Office.
Magseis has agreed to a $4,155,333 settlement. U.S. Attorney Nicholas J. Ganjei said the company "has cooperated throughout the investigation." The case was handled by the U.S. Attorney’s Office and the Small Business Administration, led by Assistant U.S. Attorney Paul B. Moore and SBA attorney Amber Perez, and involved review of potentially fraudulent federal aid applications during the pandemic. The settlement resolves the case against Magseis.
