IG Report: US Lost $200 Billion in COVID Fraud

More than $200 billion in federal COVID-19 pandemic relief funds were distributed to potentially fraudulent recipients, a report from the inspector general of the Small Business Administration showed.

The report, released Tuesday by the Office of Inspector General Hannibal "Mike" Ware, said the estimate represents 17% of the $1.2 trillion of COVID-19 Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) funds doled out by the agency. ---More...