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(Reuters) Over $200 billion likely stolen from U.S. COVID relief programs, watchdog says

Posted on June 27, 2023 by Kendall Harmon

Over $200 billion from the U.S. government’s COVID-19 relief programs were likely stolen, a federal watchdog said on Tuesday, adding that the U.S. Small Business Administration (SBA) had weakened its controls in a rush to disburse the funds.

At least 17% of all funds related to the government’s coronavirus Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) schemes were disbursed to potentially fraudulent actors, according to a report released Tuesday by the SBA’s office of inspector general.

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Posted in * Economics, Politics, Economy, Ethics / Moral Theology, Law & Legal Issues, The U.S. Government