marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
welfare fraud
06/30/2023
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By Olivia Cook
New report reveals how $200B in COVID-19 relief aid was STOLEN
A federal watchdog’s investigation strongly suggests that more than $200 billion in taxpayer dollars may have been stolen from two large Wuhan coronavirus (COVID-19) relief initiatives. This is according to the inspector general of the Small Business Administration (SBA) and represents a much greater loss through fraud than the office’s previous projections and underscores the vulnerability […]
02/02/2023
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By Belle Carter
Government watchdog flags potentially fraudulent pandemic loans amounting to $5.4B
A government watchdog has found $5.4 billion worth of potentially fraudulent loans taken out at the height of the Wuhan coronavirus (COVID-19) pandemic. The Pandemic Response Accountability Committee (PRAC) recently issued an alert identifying 69,323 questionable Social Security numbers used to obtain billions from the COVID-19 Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program […]
01/26/2023
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By Belle Carter
Government watchdog: Over $60B lost to pandemic unemployment benefits fraud
The Government Accountability Office (GAO) has stated in a report that more than $60 billion was lost to unemployment insurance fraud during the Wuhan coronavirus (COVID-19) pandemic. According to the government watchdog’s report made public on Jan. 23, state workforce agencies proved $4.3 billion were fraudulently claimed. Moreover, at least $45 billion in transactions, while not […]
08/19/2022
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By Mary Villareal
Government lost as much as $100 billion to stimulus money fraud during COVID-19 pandemic
The U.S. lost as much as $100 billion in funds as government programs got abused by applicants for benefits and aids related to the Wuhan coronavirus (COVID-19) pandemic. Since the beginning of the pandemic, the government distributed around $5 trillion in pandemic aid through three pieces of legislation, while relying heavily on the applicants’ honesty in applying […]
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