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« Last post by SVPete on February 08, 2026, 01:06:29 PM »Small Business Administration Suspends 111,620 California Borrowers Suspected of $8.6 Billion Fraud
https://www.theepochtimes.com/us/small-business-administration-suspends-111620-california-borrowers-suspected-of-8-6-billion-fraud-5982202?utm_source=partner&utm_campaign=BonginoReport&src_src=partner&src_cmp=BonginoReport
Gooberment social program bureaucrats see their jobs as handing out $$$$$$ so as to get more next year, not so much verifying eligibility.
https://www.theepochtimes.com/us/small-business-administration-suspends-111620-california-borrowers-suspected-of-8-6-billion-fraud-5982202?utm_source=partner&utm_campaign=BonginoReport&src_src=partner&src_cmp=BonginoReport
Quote
The Small Business Administration (SBA) suspended 111,620 California borrowers suspected of committing fraudulent activity related to pandemic-era loan grants, the agency said in a Feb. 6 statement.
The fraud involves the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. PPP, established under the Coronavirus Aid, Relief, and Economic Security Act, provided funds to small businesses to cover up to eight weeks of employee payroll expenses, including benefits.
The COVID-19 EIDL loans provided funds to help small businesses recover from the pandemic’s negative impacts.
The fraudulent borrowers in California received 118,489 PPP and EIDL loans totaling more than $8.6 billion.
Kelly Loeffler, SBA administrator, said that this was the “most significant crackdown” on those who have defrauded pandemic programs.
“As we did in Minnesota, we are actively working with federal law enforcement to identify the criminals who defrauded American taxpayers, hold them to account, and recoup the stolen funds. As we continue our state-by-state work, our message is clear: pandemic-era fraudsters will not get a pass under this Administration,” Loeffler said.
Gooberment social program bureaucrats see their jobs as handing out $$$$$$ so as to get more next year, not so much verifying eligibility.
Me! 