SUMMARY
- Nationwide operation uncovers $830 million in fraudulent schemes.
- Over 60 of the accused have connections to violent crime rings and international networks.
- Key focus: Illicit use of funds from the Paycheck Protection Program and Economic Injury Disaster Loans.
In an astounding crackdown, the Justice Department has unveiled a massive operation against Covid-19 fraudsters. A sumptuous $830 million was the target of these schemers, and it appears that the arm of the law is far-reaching.
Of the alleged culprits, 371 have had charges pressed against them, with a neat sum of $231 million recouped. But here’s the kicker - a good chunk, over 60 to be exact, have ties to rather unsavory activities like violent crimes and international crime rings.
A Wisconsin street gang offers a colorful anecdote. With 30 members deep, this gang allegedly dipped into the unemployment kitty to fund some not-so-legal endeavors: hiring hitmen, and shopping sprees for firearms and drugs. Deputy Attorney General Lisa Monaco shared this jaw-dropping intel during a pow-wow with fellow law officials.
Not to be outdone, another group of four made headlines. Their purported misdeeds? An intricate international swindle involving pandemic relief funds, all the way from here to Nigeria.
Now, a good number of these so-called entrepreneurs tried pulling a fast one by applying for financial aid, meant for businesses battling the pandemic aftershocks. To give a perspective, a watchdog's nose sniffed out a potential loss of a whopping $200 billion, earmarked for struggling enterprises.
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