SBA prevents fraud for over 100,000 California borrowers in $9B pandemic crackdown.

• The Small Business Administration (SBA) launched a significant fraud prevention effort, focusing on pandemic relief programs.
• Over 100,000 borrowers in California were identified as part of this crackdown.
• The initiative involved suspending more than 111,000 borrowers suspected of engaging in fraudulent activities.
• The suspected abuses pertained to loans amounting to $9 billion, underscoring the scheme’s massive scale.
• This crackdown was conducted under the Trump administration’s SBA, highlighting a proactive approach to identifying and preventing pandemic-related loan fraud.
• The action reflects ongoing efforts to maintain the integrity of emergency relief programs designed to support businesses during the pandemic.

Source: https://www.foxnews.com/politics/sba-freezes-100000-california-borrowers-sweeping-9b-pandemic-fraud-crackdown)