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

Unveiling the Lonnie Rogers Cold Case: A 44-Year Pursuit for Answers to a Disappearance

In the depths of a harsh winter in January 1981, Lonene “Lonnie”…

Chilling Pursuit: Illinois Man Arrested in Missouri for Alleged Matricide

An Illinois man, aged 38, has been apprehended and charged with the…

Tragic Stalking Case: Man Crosses State Lines, Shoots Ex-Girlfriend’s New Partner, and Abducts Her

Background: An apartment complex located in the 700 block of Forest Hills…

Urgent FBI Alert: $50K Reward for Tips on California Fugitive Linked to Murder & Missing Children

A $50,000 reward is currently available for tips that could help locate…

Woman Arrested for Secret Abortion to Conceal Infidelity: A Shocking Tale of Deception and Desperation

Background: A section of Flat Mary Road in or around Campton, Kentucky…

Tragic Shooting: Beloved ‘Extraordinary’ Couple Fatally Shot in Their US Residence

A respected dentist and his wife were gunned down in their upscale…

Son Allegedly Murders Mother and Attempts to Destroy Evidence in House Explosion, Prosecutors Reveal

Inset: David Nguyen (O”Fallon Police Department). Background: The house where Nguyen allegedly…

Authorities Shift Focus to Recovery Effort for Missing Autistic Teen Feared to Have Fallen in River

In a somber update, Indiana police announced on Friday that the search…

Joseph Scott Morgan: A Look at the Top Four ‘BODY BAGS’ Episodes of 2025

“Body Bags with Joseph Scott Morgan” – 2025’s Most Popular Episodes 4.…

Tragic Discovery: Missing 4-Year-Old Boy Found Deceased Near Father’s Residence

In a tragic turn of events, authorities confirmed on Friday that a…

Shocking Tragedy: Mother Charged After Allegedly Suffocating Toddler with Plastic Bag, Police Report

Background: News footage of the Columbus, Ohio, home where Sharon Sakoulos allegedly…

Probation Violator Arrested for Stabbing Roommate: Shocking Incident Unfolds

Staff Report GAINESVILLE, Fla. – In the early hours of yesterday, 44-year-old…