Trump admin uncovers 'staggering' $8.6 billion in suspected California small business fraud
The federal Small Business Administration suspended more than 111,000 California borrowers after uncovering $8.6 billion in suspected fraudulent activity linked to the COVID pandemic, SBA Administrator Kelly Loeffler announced Friday....
By Fox News · Fox News
The federal Small Business Administration suspended more than 111,000 California borrowers after uncovering $8.6 billion in suspected fraudulent activity linked to the COVID pandemic, SBA Administrator Kelly Loeffler announced Friday. "We have suspended nearly 112,000 borrowers tied to at least $9 billion in suspected fraud," Loeffler said in a press release on Friday. "This staggering number represents the most significant crack-down on those who defrauded pandemic programs, and it illuminates the scale of corruption that the Biden Administration tolerated for years." The SBA reported that all in, it suspended 111,620 California borrowers who received 118,489 Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) loans, totaling $8.6 billion. THE BORDER GETS THE ATTENTION WHILE FRAUDULENT GOVERNMENT BENEFITS BLEED TAXPAYERS DRY PPP loans were COVID-era federal relief program that gave small businesses money to keep workers on the payroll, while EIDL loans are part of an SBA program that provides low-interest disaster relief loans to help businesses survive during times of diaster, including the pandemic. "Once again, the Trump SBA is taking decisive action to deliver accountability in a state whose unaccountable welfare policies have created a culture of fraud and abuse at the expense of law-abiding taxpayers and small business owners," Loffler continued. CHILDCARE EXPERT EXPOSES KEY ROADBLOCK TO UNCOVERING POTENTIAL FRAUD SCHEMES IN MINNESOTA: 'REALLY DIFFICULT' The announcement follows California Attorney General Rob Bonta saying on Thursday that the Trump administration was promoting "baseless claims" of persistent fraud in the state. "Trump claims California is wasting money when, in reality, our programs are helping lower-income individuals and lower-income families get healthcare, food and housing assistance," Bonta said on Thursday. " Trump claims , wrongly, California is perpetuating fraud when we are the victim," he added. Bonta's off…