The Great Grift: How Billions in COVID-19 Relief aid was Stolen or Wasted; 5 Things to Know About How COVID-19 Relief Aid was Stolen or Wasted, and other C-Virus related stories
The Great Grift: How billions in COVID-19 relief aid was stolen or wasted:
Much of the theft was brazen, even simple.
Fraudsters used the Social Security numbers of dead people and federal prisoners to get unemployment checks. Cheaters collected those benefits in multiple states. And federal loan applicants weren’t cross-checked against a Treasury Department database that would have raised red flags about sketchy borrowers.
Criminals and gangs grabbed the money. But so did a U.S. soldier in Georgia, the pastors of a defunct church in Texas, a former state lawmaker in Missouri and a roofing contractor in Montana.
All of it led to the greatest grift in U.S. history, with thieves plundering billions of dollars in federal COVID-19 relief aid intended to combat the worst pandemic in a century and to stabilize an economy in free fall.
An Associated Press analysis found that fraudsters potentially stole more than $280 billion in COVID-19 relief funding; another $123 billion was wasted or misspent. Combined, the loss represents 10% of the $4.2 trillion the U.S. government has so far disbursed in COVID relief aid.
That number is certain to grow as investigators dig deeper into thousands of potential schemes.
How could so much be stolen? Investigators and outside experts say the government, in seeking to quickly spend trillions in relief aid, conducted too little oversight during the pandemic’s early stages and instituted too few restrictions on applicants. In short, they say, the grift was just way too easy. —>READ MORE HERE
The Great Grift: 5 things to know about how COVID-19 relief aid was stolen or wasted:
The greatest grift in U.S. history was brazen, even simple. Criminals and gangs grabbed the money. So did an U.S. soldier in Georgia, the pastors of a defunct church in Texas, a former state lawmaker in Missouri and a roofing contractor in Montana.
Over the last three years, thieves plundered billions of dollars in federal COVID-19 relief aid intended to combat the worst pandemic in a century and to stabilize an economy in free fall.
Here are some key takeaways from an Associated Press analysis of what may have been stolen or wasted.HOW MUCH WAS STOLEN?
An Associated Press analysis found that fraudsters potentially stole more than $280 billion in COVID-19 relief funding; another $123 billion was wasted or misspent. Combined, the loss represents a jarring 10% of the $4.2 trillion the U.S. government has so far disbursed in COVID-relief aid.
That number is certain to grow as investigators dig deeper into thousands of potential schemes.
There are myriad reasons for the staggering loss. Investigators and outside experts say the government, in seeking to quickly spend trillions in relief aid, conducted too little oversight during the pandemic’s early stages and instituted too few restrictions on applicants. In short, they say, the grift was just way too easy.
“Here was this sort of endless pot of money that anyone could access,” said Dan Fruchter, chief of the fraud and white-collar crime unit at the U.S. Attorney’s office in the Eastern District of Washington. “Folks kind of fooled themselves into thinking that it was a socially acceptable thing to do, even though it wasn’t legal.”
The U.S. government has charged more than 2,230 defendants with pandemic-related fraud crimes and is conducting thousands of investigations.
The pilfering was wide but not always as deep as the eye-catching headlines about cases involving many millions of dollars. But all of the theft, big and small, illustrate an epidemic of scams and swindles at a time America was grappling with overrun hospitals, school closures and shuttered businesses. Since the pandemic began in early 2020, more than 1.13 million people in the U.S. have died from COVID-19, according to the Centers for Disease Control and Prevention.WHERE DID SCAM ARTISTS GET THE MONEY? —>READ MORE HERE
Follow links below to relevant/related stories and resources:
Two Lexington men plead guilty in case involving sales of counterfeit COVID-19 masks
New Texas law bans COVID mask, vaccine and shutdown mandates, but some Republicans want more
USA TODAY: Coronavirus Updates
YAHOO NEWS: Coronavirus Live Updates
NEW YORK POST: Coronavirus The Latest
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