Washington Post: Scathing SBA watchdog report details ‘pervasive’ fraud in coronavirus disaster-loan program

Washington Post: Scathing SBA watchdog report details ‘pervasive’ fraud in coronavirus disaster-loan program. “A federal watchdog reported Tuesday that it has identified $250 million in taxpayer-subsidized coronavirus loan funds given to ‘potentially ineligible recipients,’ pointing to a strong likelihood of widespread fraud in an important but troubled economic assistance program. The Small Business Administration’s office of inspector general launched numerous investigations after receiving more than 1,000 hotline complaints about potentially fraudulent transactions, according to a report released Tuesday. It also criticized the agency for allegedly failing to put in place internal controls to prevent abuse.”