AmiSight 9/8: Investigators Can’t Keep Up With Covid Fraud Claims
To many Americans, Covid relief saved their homes, jobs, and families.
To others – too many for the government to chase down- it bought them cars, boats, and more homes in exotic places. One New York man used it for a down payment on a 12,000-square foot Florida mansion.
According to a recent report by Michael Smerconish of CNN, the Justice Dept. has traced fraud cases amounting to over $1 billion and is investigating $6 billion more. So far, 1,500 businesses and entrepreneurs have been charged with defrauding Pandemic Aid programs, with 450 convicted so far.
The problem: As currently staffed and constructed, there aren't enough investigators to handle all the cases and complaints, never mind rooting out those who got away. This means higher interest rates and a more difficult road in the future for the honest and innovative entrepreneurs out there.