- Oct 17, 2011
- 33,134
- 36,467
- Country
- United States
- Faith
- Atheist
- Marital Status
- Legal Union (Other)
LINK
The SBA's inspector general in a new report raised red flags about more than $78 billion in aid approved for businesses under the agency's Economic Injury Disaster Loan program — about 37 percent of the total amount doled out — and warned that billions might have been fraudulently obtained or directed to ineligible businesses.
Investigators cited $58 billion disbursed in multiple loans to businesses that used the same IP addresses, email addresses, bank accounts or the same physical addresses. About $13.4 billion went into accounts that differed from those listed on initial loan applications.
The SBA's inspector general in a new report raised red flags about more than $78 billion in aid approved for businesses under the agency's Economic Injury Disaster Loan program — about 37 percent of the total amount doled out — and warned that billions might have been fraudulently obtained or directed to ineligible businesses.
Investigators cited $58 billion disbursed in multiple loans to businesses that used the same IP addresses, email addresses, bank accounts or the same physical addresses. About $13.4 billion went into accounts that differed from those listed on initial loan applications.
