Written by by Jim Hᴏft at thegatewaypundit.com
The COVID-19 pandemic, which placed unprecedented demands on federal financial assistance programs, also presented ripe opportunities for fraudsters and swindlers to exploit the system.
A report released by the Department of Justice (DOJ) COVID-19 Fraud Enforcement Task Force uncovered a shocking scope of fraud during the pandemic, with over $400 billion in emergency funding either stolen or misappropriated.
According to the report, fraudulent claims and schemes targeted various pandemic relief efforts, including unemployment insurance benefits, Paycheck Protection Program (PPP) loans, and Economic Injury Disaster Loans (EIDLs), among others.
These included fraudulent claims filed using stolen identities, inflated payroll expenses, doctored bank statements, and false tax forms.
The report reveals that fraudsters and swindlers may have stolen upwards of $280 billion in emergency funding, with an additional $123 billion lost or misappropriated, totaling more than $400 billion in funds intended to aid Americans during one of the most challenging times in recent history, The Politics Brief reported.