marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
welfare fraud
06/30/2023
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By Olivia Cook
New report reveals how $200B in COVID-19 relief aid was STOLEN
A federal watchdog’s investigation strongly suggests that more than $200 billion in taxpayer dollars may have been stolen from two large Wuhan coronavirus (COVID-19) relief initiatives. This is according to the inspector general of the Small Business Administration (SBA) and represents a much greater loss through fraud than the office’s previous projections and underscores the vulnerability […]
02/02/2023
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By Belle Carter
Government watchdog flags potentially fraudulent pandemic loans amounting to $5.4B
A government watchdog has found $5.4 billion worth of potentially fraudulent loans taken out at the height of the Wuhan coronavirus (COVID-19) pandemic. The Pandemic Response Accountability Committee (PRAC) recently issued an alert identifying 69,323 questionable Social Security numbers used to obtain billions from the COVID-19 Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program […]
01/26/2023
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By Belle Carter
Government watchdog: Over $60B lost to pandemic unemployment benefits fraud
The Government Accountability Office (GAO) has stated in a report that more than $60 billion was lost to unemployment insurance fraud during the Wuhan coronavirus (COVID-19) pandemic. According to the government watchdog’s report made public on Jan. 23, state workforce agencies proved $4.3 billion were fraudulently claimed. Moreover, at least $45 billion in transactions, while not […]
08/19/2022
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By Mary Villareal
Government lost as much as $100 billion to stimulus money fraud during COVID-19 pandemic
The U.S. lost as much as $100 billion in funds as government programs got abused by applicants for benefits and aids related to the Wuhan coronavirus (COVID-19) pandemic. Since the beginning of the pandemic, the government distributed around $5 trillion in pandemic aid through three pieces of legislation, while relying heavily on the applicants’ honesty in applying […]
09/13/2021
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By Arsenio Toledo
Welfare fraud: 8 men in New York City steal over $2 million in coronavirus relief, gets caught after flaunting it on social media
A group of young men in New York City has been charged with allegedly stealing over $2 million in Wuhan coronavirus (COVID-19) relief funds from other people in the assistance program. They were caught after posting pictures of themselves on social media with the stolen cash. The eight young men, between the ages of 18 and 25, funneled the […]
12/30/2020
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By Ramon Tomey
Bank of America flags “outrageous” unemployment fraud worth $2 billion
Bank of America (BofA) pointed out potential unemployment benefits fraud in California, spread out across 640,000 accounts with suspicious activity. A BofA official said red flags they found include claims filed in the names of infants, children and centenarians, along with individuals living in other states. The bank called for an investigation of the fraudulent […]
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