Friend – We all knew there was fraud associated with the CARES Act, but none of us knew just how deep it ran.
Joni Ernst and I led an investigation to uncover the truth about pandemic fraud. And what we learned was shocking:
✔️ Roughly 222,000 fake SSNs were used on EIDL and PPP loan applications.
✔️ Almost 70,000 of those applications were approved.
✔️ And taxpayers are on the hook for all $5.4 BILLION.
What makes this even worse, friend, is we have no idea how many of these people “qualified” for PPP loan forgiveness. HOLD FRAUDSTERS ACCOUNTABLE >>
Friend, the Small Business Association failed to protect taxpayers from fraudsters looking to game the system. It’s time for the agency to conduct an internal audit, identify those that stole from their neighbors, and work with the DOJ to prosecute these offenders.
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