$5.4 Billion in “Questionable” COVID-19 Loans Reported

House committee holds hearing on mismanagement, fraud, and wasted funds.

The Pandemic Response Accountability Committee reports it has “identified 69,323 Social Security numbers used to obtain $5.4 billion from the Small Business Administration’s COVID-19 Economic Injury Disaster Loan program and Paycheck Protection Program.“ Many fraud cases are linked to U.S. government assistance programs, and President Biden’s administration has been investigating fraudulent COVID-19 loans since 2021.

The House Committee on Oversight and Accountability, chaired by Congressman James Comer of Kentucky, held a hearing on Wednesday on the mismanagement, fraud, and wasted taxpayer funds. Inspector General Michael Horowitz, GAO’s Comptroller General Gene Dodaro, and Assistant Director David Smith with the Office of Investigations at the Secret Service testified that day.

Representative Comer stated in his opening remarks, “This Committee will evaluate the hundreds of billions of dollars of grants and loans doled out from nearly every agency in the federal government, to ensure those funds were appropriately used to respond to the pandemic, and not wasted on ineligible payees or unrelated matters.“

As the Lord Leads, Pray with Us…

  • For Representative Comer and members of the House Oversight Committee as they investigate the fraud perpetrated under the COVID aid programs.
  • For the U.S. officials testifying before Congress regarding the loans and government assistance programs.
  • For the watchdog groups that alert governing officials to mismanagement and waste.

Sources: House Oversight Committee, Reuters


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