Scamdemic: Biden Admin Missing Over $5 Billion From COVID Relief Programs
Billions of taxpayer dollars are missing from the COVID relief program with the discovery of thousands of fraudulent Social Security Numbers (SSNs), and critics suspect it could just be a fragment of a much bigger financial fraud.
How did the COVID-19 pandemic in this country actually turn into a scamdemic?
Over the past week, media across the country reported on the findings of the Pandemic Response Accountability Committee (PRAC), by which more than 69,000 fraudulent SSNs were used to draw loans worth $5.4 billion.
The loans were drawn from two COVID relief programs run by the Small Business Administration (SBA) of the federal government: the Paycheck Protection Program (PPP) and the COVID-19 Economic Injury Disaster Loan (EIDL) program.
The oversight by PRAC has revealed that $5.4 billion of loans were doled out to the 69,323 fraudulent SNNs between April 2020 and October 2022. But that is not all the fraud on the radar of the committee’s oversight.
An additional 175,768 “red-flag” SNNs have been used in attempts at getting loans that were not eventually given out. Those SSNs can still be used to get money from government relief programs in the future.
Yet, this could just be a smaller part of a much bigger theft of people’s money that the federal government made available to help those who were seriously affected by the COVID health emergency. Republicans in both House and Senate are demanding a thorough investigation of this nationwide fraud.
The House Committee on Oversight and Accountability Chairman, Congressman James Comer, was cited saying, “Hundreds of billions of taxpayer dollars spent under the guise of pandemic relief were lost to waste, fraud, abuse, and mismanagement.”
Since the federal government opened up the relief programs, various businesses and a number of individuals have been caught stealing from it.
In January 2022, Akbar Ali Syed and Aleya Siyaj, a couple running COVID testing labs in several states using government funds, came under investigation after numerous complaints from people about their service. At the same time, the couple’s social media posts showed them suddenly becoming rich and living a life of luxury, including the purchase of a $1.36 million mansion.
The investigation quickly dropped out of the media, and the authorities did not seem to be interested in pursuing the scandal.
Daniela Rendon, a woman from Miami, received roughly $381,000 in fraudulent funds and is facing federal charges.
Even IRS agents are reportedly involved in the COVID relief fraud. In October 2022, five IRS employees were charged with stealing COVID relief funds. The IRS employees used the stolen money to buy luxury items and pay for personal pleasures like manicures and massages.
The news came at a time when the Biden administration had announced hiring over 80 thousand additional IRS agents to go after the American taxpayers.
Last year in May, The New York Post pointed out that the Bidden administration has been appropriating billions of additional funds in COBID relief when those already sanctioned had not been duly distributed.
Of the $41 billion allocated for vaccine research and development, for example, less than a third had been spent. The funds allocated for drugs and therapeutics presented a similar story. Yet, the Biden administration asked for another $22.5 billion in March 2022 for COVID treatments, tests, vaccines, and research.
How much of the nearly $5 trillion appropriated by the federal government for COVID relief was stolen? Who stole how much of it? And who knew but covered it up? These are only some of the many questions surrounding this historic fraud that has come out of the initial observations.
Only a thorough investigation can answer these questions. But the biggest question remains: will there be an independent and honest investigation out of D.C.?
Another poorly run program from the government. The people that really needed that help could not get it. The chances of the money being returned is nil.