Vance: Over 870,000 Alleged COVID Fraudsters Banned From Federal Loans

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Vice President JD Vance said the Trump administration banned more than 870,000 people suspected of COVID fraud from receiving federal loans.

These fraudsters allegedly exploited the Small Business Administration’s Paycheck Protection Program and Economic Injury Disaster loans to steal $39 billion.

Vance said:

FRAUD CRACKDOWN: Vice President JD Vance: “We are going to suspend 870K people PERMANENTLY, people who defrauded the government over the last couple of years, the last couple of decades. We’re going to make it impossible for them to get loans from the federal government.”

“People who decided to steal from the American taxpayer, stole money that was supposed to go to small businesses and American workers. Well, we think it makes sense that if you were caught stealing from the American taxpayer, you shouldn’t be able to benefit from these loans anymore.”

“If you screwed the American taxpayer, the federal government is now going to say you’re cut off. No more. You shouldn’t be applying anymore. No more. And if you do apply, you’re no longer able to get those benefits.”

The government has recovered around $250 billion since Vance took control of an anti-fraud task force:

Attorney General Todd Blanche: “With the help of 40 U.S. attorneys’ offices and 20 federal and state investigative agencies, we uncovered approximately $245M in [fraud]. There are a lot of people that have been implicated or charged, but so far we’ve charged over 80 individuals tied to this theft of $245M [in taxpayer money].”

So gross:

Attorney General Todd Blanche: “One case [in Missouri]… Jamie Gray allegedly attempted to steal more than $55M from taxpayers by filing hundreds of these [Paycheck Protection Program (PPP)] loans. He claimed to own dozens of businesses that were in operation prior to the pandemic, but in every instance but one, these businesses didn’t even exist. The only business that he claimed to own that did exist was a business called Fur Lives Matter.”

“Now, it was a business out of Texas, and it does exist, but when law enforcement talked to the people who actually worked at Fur Lives Matter, they had no knowledge of Mr. Gray. And so for that, he’s been charged with three counts of wire fraud and one count of money laundering by the DOJ.”

The fraud is NEVER ending!

More:

Attorney General Todd Blanche: “A grand jury charged two individuals with 47 counts of wire fraud, money laundering and conspiracy… They submitted and attempted to obtain fraudulent PPP loans on behalf of 100 plus immigrants from Cuba. They falsely claimed that they were self-employed and each had earned approximately $100K in gross income in 2019. So before the pandemic, when they actually were not self-employed, they actually worked at a Northern Iowa meatpacking plant.”

“This effort was an attempt to collect $4.5M in taxpayer money. And PPP actually distributed over $2M as part of this scheme. Now, this couple has fled the country, and they remain at large. But we’re working hard to get them back here.”

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