Trump admin uncovers 'staggering' $8.6 billion in suspected California small business fraud
Be honest—this is ridiculous.
The federal Small Business Administration suspended more than 111,000 California borrowers after uncovering $8.6 billion in suspected fraudulent activity linked to the COVID pandemic, SBA Administrator Kelly Loeffler announced Friday.
"We have suspended nearly 112,000 borrowers tied to at least $9 billion in suspected fraud," Loeffler said in a press release on Friday. "This staggering number represents the most significant crack-down on those who defrauded pandemic programs, and it illuminates the scale of corruption that the Biden Administration tolerated for years."
The SBA reported that all in, it suspended 111,620 California borrowers who received 118,489 Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) loans, totaling $8.6 billion.
THE BORDER GETS THE ATTENTION WHILE FRAUDULENT GOVERNMENT BENEFITS BLEED TAXPAYERS DRY
PPP loans were COVID-era federal relief program that gave small businesses money to keep workers on the payroll, while EIDL loans are part of an SBA program that provides low-interest disaster relief loans to help businesses survive during times of diaster, including the pandemic.
"Once again, the Trump SBA is taking decisive action to deliver accountability in a state whose unaccountable welfare policies have created a culture of fraud and abuse at the expense of law-abiding taxpayers and small business owners," Loffler continued.
CHILDCARE EXPERT EXPOSES KEY ROADBLOCK TO UNCOVERING POTENTIAL FRAUD SCHEMES IN MINNESOTA: 'REALLY DIFFICULT'
The announcement follows California Attorney General Rob Bonta saying on Thursday that the Trump administration was promoting "baseless claims" of persistent fraud in the state.
"Trump claims California is wasting money when, in reality, our programs are helping lower-income individuals and lower-income families get healthcare, food and housing assistance," Bonta said on Thursday.
"Trump claims, wrongly, California is perpetuating fraud when we are the victim," he added.
Bonta's office noted that California recovered nearly $2.7 billion in various fraud schemes across the last 10 years, "including by partnering with the federal government."
EXCLUSIVE: SENATE BILL TARGETS MINNESOTA-STYLE ‘RUNAWAY FRAUD’ TO FORCE SCAMMERS REPAY TAXPAYERS
Fox News Digital reached out to Bonta's office on Friday for additional comment.
Newsom's office directed Fox News Digital to the Governor Newsom Press Office X account, which mocked the SBA announcement.
"OMG. The Trump Administration found MAJOR FRAUD in programs THEY control, Newsom's Press Office's X account posted, linking to …
Be honest—this is ridiculous.
The federal Small Business Administration suspended more than 111,000 California borrowers after uncovering $8.6 billion in suspected fraudulent activity linked to the COVID pandemic, SBA Administrator Kelly Loeffler announced Friday.
"We have suspended nearly 112,000 borrowers tied to at least $9 billion in suspected fraud," Loeffler said in a press release on Friday. "This staggering number represents the most significant crack-down on those who defrauded pandemic programs, and it illuminates the scale of corruption that the Biden Administration tolerated for years."
The SBA reported that all in, it suspended 111,620 California borrowers who received 118,489 Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) loans, totaling $8.6 billion.
THE BORDER GETS THE ATTENTION WHILE FRAUDULENT GOVERNMENT BENEFITS BLEED TAXPAYERS DRY
PPP loans were COVID-era federal relief program that gave small businesses money to keep workers on the payroll, while EIDL loans are part of an SBA program that provides low-interest disaster relief loans to help businesses survive during times of diaster, including the pandemic.
"Once again, the Trump SBA is taking decisive action to deliver accountability in a state whose unaccountable welfare policies have created a culture of fraud and abuse at the expense of law-abiding taxpayers and small business owners," Loffler continued.
CHILDCARE EXPERT EXPOSES KEY ROADBLOCK TO UNCOVERING POTENTIAL FRAUD SCHEMES IN MINNESOTA: 'REALLY DIFFICULT'
The announcement follows California Attorney General Rob Bonta saying on Thursday that the Trump administration was promoting "baseless claims" of persistent fraud in the state.
"Trump claims California is wasting money when, in reality, our programs are helping lower-income individuals and lower-income families get healthcare, food and housing assistance," Bonta said on Thursday.
"Trump claims, wrongly, California is perpetuating fraud when we are the victim," he added.
Bonta's office noted that California recovered nearly $2.7 billion in various fraud schemes across the last 10 years, "including by partnering with the federal government."
EXCLUSIVE: SENATE BILL TARGETS MINNESOTA-STYLE ‘RUNAWAY FRAUD’ TO FORCE SCAMMERS REPAY TAXPAYERS
Fox News Digital reached out to Bonta's office on Friday for additional comment.
Newsom's office directed Fox News Digital to the Governor Newsom Press Office X account, which mocked the SBA announcement.
"OMG. The Trump Administration found MAJOR FRAUD in programs THEY control, Newsom's Press Office's X account posted, linking to …
Trump admin uncovers 'staggering' $8.6 billion in suspected California small business fraud
Be honest—this is ridiculous.
The federal Small Business Administration suspended more than 111,000 California borrowers after uncovering $8.6 billion in suspected fraudulent activity linked to the COVID pandemic, SBA Administrator Kelly Loeffler announced Friday.
"We have suspended nearly 112,000 borrowers tied to at least $9 billion in suspected fraud," Loeffler said in a press release on Friday. "This staggering number represents the most significant crack-down on those who defrauded pandemic programs, and it illuminates the scale of corruption that the Biden Administration tolerated for years."
The SBA reported that all in, it suspended 111,620 California borrowers who received 118,489 Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) loans, totaling $8.6 billion.
THE BORDER GETS THE ATTENTION WHILE FRAUDULENT GOVERNMENT BENEFITS BLEED TAXPAYERS DRY
PPP loans were COVID-era federal relief program that gave small businesses money to keep workers on the payroll, while EIDL loans are part of an SBA program that provides low-interest disaster relief loans to help businesses survive during times of diaster, including the pandemic.
"Once again, the Trump SBA is taking decisive action to deliver accountability in a state whose unaccountable welfare policies have created a culture of fraud and abuse at the expense of law-abiding taxpayers and small business owners," Loffler continued.
CHILDCARE EXPERT EXPOSES KEY ROADBLOCK TO UNCOVERING POTENTIAL FRAUD SCHEMES IN MINNESOTA: 'REALLY DIFFICULT'
The announcement follows California Attorney General Rob Bonta saying on Thursday that the Trump administration was promoting "baseless claims" of persistent fraud in the state.
"Trump claims California is wasting money when, in reality, our programs are helping lower-income individuals and lower-income families get healthcare, food and housing assistance," Bonta said on Thursday.
"Trump claims, wrongly, California is perpetuating fraud when we are the victim," he added.
Bonta's office noted that California recovered nearly $2.7 billion in various fraud schemes across the last 10 years, "including by partnering with the federal government."
EXCLUSIVE: SENATE BILL TARGETS MINNESOTA-STYLE ‘RUNAWAY FRAUD’ TO FORCE SCAMMERS REPAY TAXPAYERS
Fox News Digital reached out to Bonta's office on Friday for additional comment.
Newsom's office directed Fox News Digital to the Governor Newsom Press Office X account, which mocked the SBA announcement.
"OMG. The Trump Administration found MAJOR FRAUD in programs THEY control, Newsom's Press Office's X account posted, linking to …
0 Comments
0 Shares
39 Views
0 Reviews