US EditionCalifornia identifies $8.6 billion in newly uncovered fraud, including multiple businesses linked to a single address
The Small Business Administration suspended 111,000 borrowers over $8.6 billion in alleged COVID-19 loan fraud linked to Paycheck Protection Program and Economic Injury Disaster Loans.
- On Friday, Small Business Administration administrator Kelly Loeffler said the agency suspended over 111,000 California borrowers for suspected COVID-era fraud.
- Following earlier enforcement in Minnesota, the SBA suspended over 111,000 California borrowers for suspected COVID-19 relief fraud, involving funds from the Paycheck Protection Program and Economic Injury Disaster Loans.
- Using strong language, the SBA administrator argued that the Trump SBA is taking decisive action, describing it as the most significant crackdown illuminating the Biden Administration's tolerated corruption, Loeffler said.
- California's Democratic Attorney General rejected the report, calling it `baseless` while state officials disputed Small Business Administration administrator Kelly Loeffler's claims.
- The alleged fraud totals up to $8.6 billion, Loeffler said, warning fraudsters they would not get a pass under President Donald Trump's administration.
18 Articles
18 Articles
California: SBA Suspends 12,000 Borrowers Suspected of $9 Billion of Fraud
111,620 California borrowers suspected of committing $8.6 billion of pandemic-era fraud have been suspended by the U.S. Small Business Administration, SBA Administrator Kelly Loeffler announced Friday. “I’m here in San Diego, standing at an address that is registered to 14 businesses that took $2 million in pandemic-era loans Those loans haven’t been paid back,” Administrator Loeffler says in a social media video reporting the suspensions. “But,
SBA Uncovers Massive Fraud in California: 111,620 Borrowers Linked to $8.6 BILLION in Pandemic Fraud › American Greatness
The U.S. Small Business Administration (SBA) has suspended 111,620 California borrowers linked to $8.6 billion in suspected fraud across Paycheck Protection Program (PPP) and Economic […] Source
Trump Admin Suspends 111,620 'California Borrowers' For Allegedly Committing Billions in Pandemic-Era Fraud
SBA Administrator Kelly Loeffler announced her agency has suspended 111,620 borrowers in California over alleged fraud related to pandemic-era loan programs.
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