The Justice Department reported Wednesday that a startling 371 Americans have been charged with stealing around $836 million in COVID relief funding, including gang members who used the money to hire hitmen.
According to the DOJ, the charges were the outcome of a three-month-long cooperative investigation carried out by law enforcement organizations across the country from May through July.
From Aid to Crime: COVID-19 Relief Fund Abuses
In a time of “national emergency,” the department has concentrated on “bringing to justice those who stole from American businesses and families,” according to Deputy Attorney General Lisa Monaco.
Of the 63 people charged, gang members and people with ties to violent crimes are among the defendants.
According to Michael Galdo, acting director of the COVID-19 fraud enforcement task team, some utilized the monies intended to assist suffering individuals and company owners to finance murder-for-hire conspiracies.
More than 3,000 Americans have been charged with crimes connected to the fraud, and the Justice Department has seized more than $1.4 billion in improperly spent pandemic-era relief monies.
According to the Justice Department, many of the alleged fraudsters misappropriated cash through Small Business Administration programs like the Paycheck Protection Program and economic harm disaster loans as well as payments from pandemic unemployment insurance.
Since it started looking into such misconduct, the DOJ has in total confiscated more than $1.4 billion in improperly utilized pandemic-era relief monies and prosecuted more than 3,000 Americans with crimes connected to the fraud.
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Stolen Wealth: Fraud Hits 17% of PPP Loans
Some of the worst fraud has come from the Paycheck Protection scheme, often known as the PPP loan scheme.
According to a report from the Office of the Small Business Administration released last month, an astounding 17% of loans cashed out from the program’s $200 billion in loans were stolen by fraudsters.
According to the article, the stolen money was spent on Lamborghinis, holiday residences, private plane rides, and Cartier jewelry.
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