Share this @internewscast.com

The IRS said it caught scammers who stole more than $1.8 billion from federal COVID-19 relief funds intended to help small businesses and workers affected by the pandemic.

The massive amount of theft was uncovered over two years by IRS criminal investigations into more than 660 tax and money-laundering cases involving stimulus funds doled out as loans, credits and payments, the IRS said Wednesday.

The total amount stolen from the federal government’s $2 trillion in pandemic aid may be many times higher. Back in December, the U.S. Secret Service estimated that at least $100 billion had been stolen from COVID-19 relief programs, mostly from unemployment fraud. That figure did not include cases like those uncovered by the IRS and prosecuted by the Justice Department.

“Unfortunately, even during times of crisis, criminals pop their heads out to look for ways to take advantage of those in their most vulnerable state,” Jim Lee, chief of IRS criminal investigations, said in a statement.

Ongoing investigations by the IRS criminal investigation unit have uncovered more than $1.8 billion in COVID relief fraud, the agency said.
Ongoing investigations by the IRS criminal investigation unit have uncovered more than $1.8 billion in COVID relief fraud, the agency said.

via Associated Press

The IRS said it has had a 100% conviction rate for scammers who have been prosecuted, with prison sentences averaging 42 months.

The fraud involved money appropriated by the Coronavirus Aid, Relief and Economic Security Act, or CARES, signed into law two years ago in response to the pandemic. The measure authorized more than $2 trillion in aid.

Many of those the IRS caught scamming submitted fraudulent Paycheck Protection Program loan applications that cited fake businesses and employees. Some were accused of using the taxpayer money for lavish spending sprees, purchasing luxuries like Lamborghinis, Rolex watches, designer handbags and houses. After coming under suspicion, others attempted to fake their own death or flee the country.

The Justice Department’s criminal division last month reported recovering more than $75 million in cash plundered from PPP funds, as well as real estate and luxury items purchased with fraudulent proceeds. The valuables were seized in cases involving more than 150 defendants in 95 criminal cases.

Source: huffpost

Share this @internewscast.com
You May Also Like

Tragic Case: Mother Repeatedly Attempts to Smother Son Before Committing Fatal Act

Left inset: Sarah Safranek (State’s Attorney of Ogle County). Right inset: Nathaniel…

Off-Duty Officer Faces Scrutiny After Allegedly Shooting Man 17 Times in the Back: A Deep Dive into the Incident

Insets, from left: Atlanta police Officer Gerald Walker (APD) and Linton Blackwell…

Historic Knife Collection Effort Cleanses Victoria’s Streets in 2025

A record haul of more than 15,000 blades have been seized by…

Gainesville Man Charged with Domestic Battery and Child Neglect After Disturbing Incident

Reported by Staff GAINESVILLE, Fla. – In the early hours of the…

Tragic Nevada Road Rage: 11-Year-Old Fatally Shot on School Commute

A tragic road rage incident in Nevada led to the death of…

Police Reveal Disturbing Texts Linked to Teen’s Tragic Death

Left inset: Kennan Peoples (Pemiscot County Jail). Right inset: Donald Peoples Jr.…

Police Report: Mother Accused of Fatally Assaulting Nonverbal Teen Daughter with Autism

Left: Vangie Averhart (Wayne County Jail via WDIV). Right: Kylee Clark (Edward…

Tragic End for 11-Year-Old Connecticut Girl as Family Faces Murder Charges

Family members of an 11-year-old Connecticut girl, whose body was discovered in…

Shocking Road Rage Incident in NSW: Hit-and-Run Leaves Men Hospitalized

Two men have been seriously hurt, a boy is in hospital, and…

Teens Sentenced for Tragic Murder of 12-Year-Old Girl in Chilling Home Incident

Insets, left to right: Jayden Burch (Lake City police) and Mariah Smith…

Crucial Date Set to Be Announced for Lehrmann Rape Case Trial

Former political staffer Bruce Lehrmann’s court bid to avoid facing a rape…

Trio Detained and Vehicles Confiscated Following Reckless Driving at Adelaide Club Gathering

Authorities have detained three individuals and confiscated two vehicles following an alleged…