Monday, July 4, 2022

Nearly $100B Stolen in Pandemic Relief Funds Says Secret Service

Stimulus check

*While some of y’all are hoping for another pandemic shutdown to get those stimulus checks and unemployment benefits poppin’ again, the Secret Service is running them fraud numbers and they’re working hard to get them coins back!

According to @apnews, nearly $100 billion has been stolen from COVID-19 relief programs since the start of the pandemic. The Secret Service announced that the Department of Labor and Small Business Administration have been collecting data from programs set up to help small businesses and people who lost their jobs due to the pandemic, and found that 3% of the $3.4 trillion dispersed was fraudulent.

The Labor Department reported that most of the stolen funds come from unemployment fraud, with about $87 billion being paid to—click the link in our bio to read more!

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The Justice Department said last week that its fraud section had prosecuted over 150 defendants in more than 95 criminal cases and had seized over $75 million in cash proceeds derived from fraudulently obtained Paycheck Protection Program funds, as well as numerous real estate properties and luxury items purchased with the proceeds.

One of the best-known programs created through the March 2020 CARES Act, PPP offered low-interest, forgivable loans to small businesses struggling to meet payroll and other expenses during pandemic-related shutdowns.

“Can we stop fraud? Will we? No, but I think we can definitely prosecute those that need to be prosecuted and we can do our best to recover as much fraudulent pandemic funds that we can,” said Roy Dotson, who is the Secret Service’s assistant special agent in charge of the agency’s field office in Jacksonville, Florida.




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