870,000 Fraudsters Guilty of Stealing $50 Billion in Fraudulent Pandemic Loans

If you felt the government was just shoveling out money—and the system was ripe for fraud, your intuition was right. It was worse than many of us thought.

WATCH: Vice President JD Vance Holds a Fraud Task Force Press Conference

Washington Times: Vice President J.D. Vance announced Monday that the government is barring 870,000 people from getting future federal loans because they are suspected of defrauding the government during the pandemic. They accounted for nearly $50 billion in bogus small business loans, officials said. Letters will be mailed out starting this week notifying them they’re banned. “If you screwed the American taxpayer, the federal government is now going to say you’re cut off,” Mr. Vance said at an appearance in Kansas City, flanked by Attorney General Todd Blanche, FBI Director Kash Patel and Small Business Administration Administrator Kelly Loeffler….  Mr. Vance, who was tapped to lead President Trump’s task force on combating fraud, also called upon Democrats to join the fraud fight. “Congressional Democrats have been so captured by far-left advocacy groups that they can’t even participate in something as common sense as protecting the American taxpayer’s money,” he said. “We can’t allow it to be normalized that the American people get stolen from by fraudsters.”.

The SBA announced suspensions for 870,000 PPP and COVID EIDL borrowers tied to $39 billion in suspected fraud, in our biggest fraud action to date.

In total, the Trump SBA has now suspended about 1 million borrowers associated with $49 billion in suspected pandemic fraud across all 50 states and U.S. territories.

Also today, the agency announced “Operation No Doze” in partnership with SBA Office of Inspector General – a campaign that will send demand letters to suspected fraudsters across the nation, starting in Kansas and Missouri.

The agency has already referred $22 billion to Treasury – and will continue to partner with its federal counterparts across the Administration to both claw back stolen dollars and prosecute criminals to the fullest extent of the law.

Todd Blanche reveals DOJ has charged 80 PEOPLE in a $245 MILLION COVID fraud crackdown

“The American people were ROBBED and they deserve to know.”

One man tried stealing $55 MILLION in taxpayer dollars by filing for pandemic loans for BOGUS businesses.

Others were filing on behalf of Cuban immigrants.

And the government PAID OUT.

AUTHOR

Pamela Geller

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.