Jump to content

COVID con, part 1: How the pandemic became a gold mine for fraudsters


Geee
 Share

Recommended Posts

how-pandemic-became-gold-mine-fraudsters
Just the News

Both state and federal government agencies have facilitated massive criminal fraud over the past two years by paying out billions of dollars in COVID-19 relief funds to fraudsters who gamed the system

 

Since COVID-19 hit the U.S. in early 2020, the federal government has created several initiatives to combat the devastating economic fallout of the pandemic. Due to lax oversight by several agencies at both the state and federal level, however, billions meant for alleviating Americans' economic distress instead went to individuals who defrauded the government programs.

Much of the fraudulent activity occurred through the Small Business Administration (SBA), which is charged with overseeing several COVID-19 relief programs, including the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan program (EIDL).

PPP provides forgivable loans to assist businesses during the pandemic, and EIDL provides accessible and borrower-friendly capital to nonprofits and small businesses recovering from the pandemic's economic impacts.

While PPP helped many businesses survive during the pandemic, it was also riddled with fraud. About 15% of the $961 billion that the Congress appropriated in total for PPP is projected to have been obtained fraudulently, according to one study.:snip:

Link to comment
Share on other sites

@Geee

March 19 2020

"Well in in Minnesota Gov Tim Walz has taken care of that little problem...by shutting down All Bars & Restaurants. The question is, 1. How long will this ban be in place 2. how many bars and restaurants will go under? All because of 14 cases (out of a population of 5.6 Million)

Let me see if I understand this (not being all that bright I..Could..Be..Wrong) The media pushes the Panic Button in order to get Ratings/Clicks. A certain number of people go (for lack of a better word) Insane. Politicians in response to the Media and the Insane, react by shutting down large parts of society/the economy...(249 people in a group, you're safe, 251 Everyone dies. If you want a drink or dinner out...You're gonna die.).

Then to (try) a solve the problem they created by panicking and reacting to the insanity they say they are going to Give me $1,000. Where we might reasonably ask will they get this money? Why from the magical money tree of course!"

A skinny old wise ass.

__________________________________________________________________________

In the last (almost) 2 years I have seen Nothing to refute this post.

Meanwhile here in the North Star State

Minneapolis, St. Paul to require proof of vaccination for bars and restaurants

Both cities have also brought back mandatory masking.

Anthony Gockowski

January 12, 2022

 

  • Sad 1
Link to comment
Share on other sites

9 Reasons Not to Pass Yet Another Federal COVID-19 ‘Relief’ Spending Package

Now almost two years since the COVID-19 pandemic began, and after $6.6 trillion in total federal spending on it—the equivalent of $51,600 per household—some policymakers want to pass yet another so-called COVID-19 relief package.

Not only has Congress already spent more than it should have, some of the previous COVID-19 relief spending is actually hurting our economy today by adding to problems like rising costs, supply chain problems, and an unprecedented labor shortage.

The following are nine reasons why Washington should not enact any more COVID-19 spending.

1) Unspent Funds: There’s still $989 billion in COVID-19 relief that hasn’t been spent. According to the Committee for a Responsible Federal Budget’s COVID money tracker, there’s still nearly $1 trillion in COVID-19 relief funds that have yet to be committed or spent. That’s equivalent to $7,700 per household across the U.S.:snip:

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

  • 1642885048
×
×
  • Create New...