SBA's watchdog received more than 1 million fraud referrals for disaster loans, House select committee says
CNN
The Small Business Administration's watchdog received more than 1 million referrals for suspected fraud in loans from small business relief programs, including referrals for identity theft, according to an analysis released Thursday by the House select committee reviewing the federal response to the coronavirus crisis.
The SBA sent its Office of Inspector General 1.34 million referrals for potential fraud in loans and advances borrowed from the Economic Injury Disaster Loan program, the House Select Subcommittee on the Coronavirus Crisis's majority staff wrote in a memo. The latest analysis shows the wide scope of potential fraud in small business loans under the Trump administration. The House select committee claims that the Trump administration's "mismanagement" of small business relief programs led to nearly $84 billion in potentially fraudulent loans.
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