The U.S. Secret Service said that it has recovered $286 million in fraudulently obtained pandemic loans and is returning the money to the Small Business Administration.
The Secret Service said an investigation initiated by its Orlando office found that alleged conspirators submitted Economic Injury Disaster Loan applications by using fake or stolen employment and personal information and used an online bank, Green Dot, to conceal and move their criminal proceeds.
“This forfeiture effort and those to come are a direct and necessary response to the unprecedented size and scope of pandemic relief fraud," said Kevin Chambers, director for COVID-19 fraud enforcement at the Justice Department. As a result, the GAO has recommended several measures for agencies to prevent pandemic program fraud in the future, including better reporting on their fraud risk management efforts.
The latest seizure included a collaboration of efforts between Secret Service, the SBA's Inspector General, DOJ and other offices.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden appoints new director to lead the Secret ServicePresident Joe Biden on Wednesday announced the appointment of Kimberly Cheatle to be the next director of the Secret Service.
Read more »
Secret Service recovers $286M in stolen pandemic loansThe U.S. Secret Service said Friday that it has recovered $286 million in fraudulently obtained pandemic loans and is returning the money to the Small Business Administration.
Read more »
Secret Service recaptures $2.3 billion in bogus pandemic benefitsThe Secret Service said Friday it has helped recover and return to the government nearly $2.3 billion in bogus pandemic benefits, including a major new operation that netted nearly $300 million in fraudulent small business loans.
Read more »
Biden names new Secret Service director amid Jan. 6 scrutinyPresident Joe Biden has named Kim Cheatle, a veteran Secret Service official, as the agency’s next director.
Read more »
Secret Service recovers $286 million in stolen Covid relief fundsNEW: The Secret Service says it has recovered $286 million in Covid relief funds that were meant for small businesses but were siphoned off by fraudsters using stolen or fake identities.
Read more »