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Friday, December 9, 2022

COVID relief fraud nears $100B, Secret Service says | Fox Business

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The distribution of COVID-19 federal relief monies has released a sea of people and crime syndicates responsible for nearly $100 billion in looted payouts, according to the Secret Service. The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress in March 2020 to mitigate the economic effects of the expanding epidemic.

A total of $349 billion was set aside for loans from the Small Business Administration. When the initial monies ran out, another $300 billion was allocated. Assistant Special Agent in Charge (ASAIC) Roy Dotson has been named by the Secret Service to manage the pandemic fraud restoration operation.

Dotson’s job entails working with financial institutions and money services organizations, as well as US attorney offices and other federal agencies. The Secret Service has more than 900 current criminal investigations on pandemic-related relief fraud, according to Dotson, who is stationed in the Jacksonville field office.

Source: https://www.foxbusiness.com/economy/covid-relief-fraud-nears-100b-secret-service-says

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