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

SOURCE:

https://www.cnbc.com/2023/06/27/fraudsters-stole-200-billion-in-covid-loans-watchdog.html

  • 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.

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