Report: Billions Of Covid Funds Potentially Stolen By Fraudsters

Congress scheduled to hold hearings on fraud in pandemic spending on Wednesday

  • A report by the Pandemic Response Accountability Committee, a federal watchdog, found that the U.S. government probably gave out around $5.4 billion in COVID-19 assistance to people with questionable Social Security numbers.
  • The PRAC identified 69,323 suspicious Social Security Numbers that were used to get $5.4 billion in loans from the COVID-19 Economic Injury Disaster Loan program as well as the Paycheck Protection Program.
  • The loans were distributed from April 2020 to October 2022.