Two COVID-19 relief funds that funneled federal support to struggling U.S. businesses during the early days of the pandemic may have been bilked for as much as $200 billion, according to an analysis released on Tuesday.
new report
The report's estimate of $200 billion in losses represents some 17% of the estimated $1.2 trillion in funds disbursed through the COVID-19 Economic Injury Disaster Loan and Paycheck Protection Program. in a Tuesday interview that 86% of the fraud, or potential fraud, in the emergency loan programs happened during the first nine months of the pandemic when President Donald Trump was in office.
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