Pandemic-era fraud: SBA finds $430M stolen in Minnesota, thousands of fake small business loans under investigation

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TRUMP’S SBA CHIEF FINDS 7,000 FAKE LOANS WORTH $430M IN MINNESOTA ALONE

Small Business Administrator Kelly Loeffler says her team found 6,900 fraudulent small business loans in Minnesota that stole $430 million from taxpayers.

It took them 2 days to find $3 million worth of fraud once they started looking.

“It didn’t take long when we scratched the surface within two days to find $3 million worth of fraud.

Then it accumulated up to $430 million, 7,000 fraudulent borrowers. That’s in one state.”

Loeffler says this is pandemic-era fraud that the Biden administration tried to sweep under the rug.

Now handcuffs and jail time are coming for the fraudsters.

If they found nearly half a billion dollars in fraud in Minnesota within days of looking, the question is how much more is sitting in the other 49 states.

Source: Fox News,
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