4 ms·
Not OP, but here is some data: “We estimate that SBA disbursed over $200 billion in potentially fraudulent COVID-19 EIDLs, EIDL Targeted Advances, Supplemental
by hypothesis 3y ago
Not OP, but here is some data:
“We estimate that SBA disbursed over $200 billion in potentially fraudulent COVID-19 EIDLs, EIDL Targeted Advances, Supplemental Targeted Advances, and PPP loans. This means at least 17 percent of all COVID-19 EIDL and PPP funds were disbursed to potentially fraudulent actors.”
https://www.sba.gov/document/report-23-09-covid-19-pandemic-eidl-ppp-loan-fraud-landscape https://www.sba.gov/document/report-23-09-covid-19-pandemic-...
IRS also covered some:
https://www.irs.gov/newsroom/irs-criminal-investigation-releases-updated-covid-fraud-statistics-on-4th-anniversary-of-cares-act-nearly-9-billion-investigated https://www.irs.gov/newsroom/irs-criminal-investigation-rele...
- chii 3y agoa program administered with poor oversight (may be due to time constraints or whatever reason) doesn't make that program a poor policy decision. I think means tested welfare can backfire a lot in ways that locks people into dependency on the welfare and not look for a higher paying job.