The Small Business Administration awarded up to $1.3 billion in pandemic relief to unqualified foreign applicants. It may have included international criminal organizations. This is from a report by the agency’s inspector general.
Couldn’t the agency check the foreign addresses before sending the money?
The report, released Monday, found that the SBA approved and distributed 41,638 loans and grants to foreign applicants between March 20, 2020, and November 12, 2021. This was through the Economic Injury Disaster Loan program.
Congress directed the SBA to provide these grants to businesses in the United States that were impacted by the pandemic. The agency acknowledged it failed to provide proper oversight of awards issued to foreign entities. The report found the SBA approved 3,097 grants for applicants in six unspecified “high-risk” countries, distributing $14.3 million to the recipients. The agency, Congress, and the administration did NOT provide an oversight mechanism. Mandating something and anointing it does not substitute for planning and accountability.
“The numerous applications submitted from foreign IP addresses are an indication of potential fraud that may involve international criminal organizations,” the report concluded.
CENTRALIZED GOVERNMENT CAN’T DO THE JOB
The government uses AI to catch grandparents parading in the Capitol, but not to protect our tax dollars as we go deeper into debt and do more damage to the US dollar.
$1.3B here and $1.3B there. Pretty soon, you’re talking about a lot of money.
According to other reports to date, we wasted a lot more than that. Do people think a centralized government is a good idea, and if so, why?
There was no oversight and no accountability. The politicians claimed the emergency warranted it. No one is looking out for our tax dollars, and we will crash and burn at some point.
The Biden administration doesn’t care about your $1.3B.
As this is going on, Biden’s team is destroying the US dollar with the sanctions on Russia. Asia is now looking to China and BRICS because they can no longer trust the West’s financial system. We weaponized it. If we lose the value of the dollar in the sale of oil and gas, we will become poor quickly.