- The Small Business Administration (SBA) has taken significant action against pandemic-related fraud, impacting a large number of California borrowers.
- Over 111,000 borrowers in California have been suspended as part of this effort to address suspected abuse of pandemic relief programs.
- The crackdown targets suspected fraud involving $9 billion in pandemic loans intended to aid individuals and businesses during the COVID-19 crisis.
- This extensive fraud prevention measure was initiated during Donald Trump’s administration.
- The initiative underscores the government’s commitment to ensuring that pandemic relief funds are used appropriately and reach those truly in need.
- The suspension is part of broader efforts to improve accountability and integrity in the distribution of relief funds across the nation.
Source: https://www.foxnews.com/politics/sba-freezes-100000-california-borrowers-sweeping-9b-pandemic-fraud-crackdown)
