The amount involved in the case reached 280 billion US dollars, and US media revealed the largest fraud case in US history, the pandemic | loan | US
According to the report of the Associated Press on June 12 local time, during the COVID-19, more than 280 billion dollars of the 4.2 trillion dollars in aid granted by the U.S. government were "stolen" by fraudsters, which is also the largest fraud case in the history of the United States.
According to the report, at the beginning of the epidemic, there were huge loopholes in the approval process of the US government's aid for the COVID-19 epidemic. For example, in the implementation of the economic loss disaster loan plan and the salary protection plan, the borrower was allowed to "self prove" the authenticity of the loan situation, and the US Small Business Administration had no right to view the tax return of the applicant. Some experts believe that the government lacks regulation and imposes very few conditions on applicants, making it easy for fraudsters to succeed.