A Bergen County construction company has admitted that it illegally obtained $2 million in COVID-19 business relief funds by lying about the number of its employees, federal prosecutors announced Monday.

Ulma Form Works, Inc., of Fair Lawn, entered into a settlement agreement with the federal government to pay the funds back in order to resolve a lawsuit, according to a statement from the U.S. Attorney’s Office District of New Jersey.

In January 2021, Ulma, which manufactures and supplies concrete formwork, applied for and received a $2 million Paycheck Protection Program (PPP) loan, the office said.

Businesses with more than 300 employees were not eligible for PPP loans at the time and in its loan application, Ulma claimed eligibility by stating it employed fewer than that total, inves

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