Watchdog Finds More Than $200 Billion in Potential Fraud in Pandemic Relief Programs
The Small Business Administration rushed to deliver $1.2 trillion in emergency grants and loans during the first two years of the Covid-19 pandemic, and while that spending likely played a major role in cushioning the economy and limiting the damage from the rapid-onset recession, more than $200 billion of it may have been lost due to waste, fraud and abuse, according to a new report from the agency’s Office of the Inspector General. Most of the fraud occurred in the two largest pandemic-era pro