Agents of the Internal Revenue Service (IRS) investigated 660 cases of alleged fraud connected to COVID-19 stimulus funds and found more than $1.8 billion over the past two years, according to investigational data made public on Wednesday. “These cases included a broad range of criminal activity, including fraudulently obtained loans, credits and payments meant for American workers, families, and small businesses,” the IRS Criminal Investigation (IRS-CI) division said in a statement. The statutory body noted that it had a 100 percent conviction rate for prosecuted cases, with prison sentences averaging 42 months. Nearly two years ago, President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act meant to fuel the fight against the CCP (Chinese Communist Party) virus pandemic and sustain the hard-hit economy. The approximately $2.2 trillion stimulus package included $500 billion in loans to industries, $100 billion for hospitals, $58 billion in aid to airlines, $150 billion …
IRS Investigators Find Nearly $2 Billion in COVID-19 Stimulus-Related Fraud
March 24, 2022
admin
0 Comment