Feb 6, 01:21 PM

U.S. COVID-19 Relief Fraud Estimated at $100 Billion to $135 Billion, $5 Billion Recovered, March Deadline Looms

The U.S. government has lost an estimated $100 billion to $135 billion due to fraud related to COVID-19 relief programs, according to the Government Accountability Office (GAO) and the Secret Service. The Paycheck Protection Program (PPP) and unemployment insurance programs have been particularly affected. A hearing held by the House Ways and Means Committee's Work and Welfare Subcommittee is investigating fraud in the unemployment insurance program, where fraudsters are estimated to have stolen between $100 billion and $135 billion in benefits. Currently, only $5 billion of the stolen funds have been recovered. The statute of limitations for prosecuting these crimes is set to expire in March, prompting calls for Congressional action to extend it, which would allow the Department of Justice to investigate further instances of fraud.

#Government Accountability Office #GAO #Secret Service #Paycheck Protection Program #PPP #Congressional #Department of Justice

Written with ChatGPT (GPT-4o mini).

U.S. COVID-19 Relief Fraud Estimated at $100 Billion to $135 Billion, $5 Billion Recovered, March Deadline Looms

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