Federal prosecutors announced that an artificial intelligence data center engineering firm has agreed to pay $2. 48 million to resolve allegations that it improperly received a second-draw PPP loan.

What we know: The U.S. Attorney's Office for the Northern District of Texas said AMAX applied for and received the loan in 2021. The loan was later fully forgiven.

The government alleged AMAX was not eligible for the loan because the company and related entities collectively exceeded the applicable size for the program.