How many good parents lost custody based on the phony claim that this is “life-saving care" by politicized U.S. Speaking of tragic collisions at the intersection of science and politics, Abigail Shrier tweets on a debate over sex-change surgeries and drugs administered to children: We estimate that SBA disbursed over $200 billion in potentially fraudulent COVID-19 EIDLs, EIDL Targeted Advances, Supplemental Targeted Advances, and PPP loans.Ī full accounting of all the wasted spending in the era of Covid political panic would surely reach very far above $200 billion. However, the allure of “easy money" in this pay and chase environment attracted an overwhelming number of fraudsters to the programs. The agency weakened or removed the controls necessary to prevent fraudsters from easily gaining access to these programs and provide assurance that only eligible entities received funds. ![]() In the rush to swiftly disburse COVID-19 EIDL and PPP funds, SBA calibrated its internal controls. Over the course of the Coronavirus Disease 2019 (COVID-19) pandemic, SBA disbursed approximately $1.2 trillion of COVID-19 Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) funds. ![]() Small Business Administration’s (SBA) pandemic assistance loan programs. Small Business Administration (SBA) Office of Inspector General (OIG) conducted this review to provide a comprehensive estimate of the potential fraud in the U.S. The Small Business Administration explains: ![]() “During the height of the pandemic, it was really hard to purchase items like a Rolls-Royce, or a high-end Mercedes because you had people walking in with cash from the PPP program to purchase those items for whatever the dealer was asking," Talcove said.
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