As in Canada, billions of dollars $ stolen from COVID relief money in United States (200 to 400 billion $ missing from PPP, COVID relief); How $400 billion in COVID-19 aid was stolen or wasted
by Paul Alexander
More than $200 billion in Covid aid disbursed by the Small Business Administration may have been stolen by fraudsters, according a federal watchdog.
This would represent 17% of the $1.2 trillion disbursed by SBA through the Economic Injury Disaster Loan program and the Paycheck Protection Program.
The inspector general said an overwhelming number of fraudsters were able to take advantage of the program due to weak internal controls as the loans were rushed out.