Federal officials are reviewing approximately $1.2 trillion in payouts to root out fraudsters, according to Kelly Loeffler, administrator of the Small Business Administration (SBA).
“Federal contracting and the fraud that happens within it in Washington, D.C., around these programs are probably the worst kept secret in Washington,” Loeffler said during an interview with “American Thought Leaders” host Jan Jekielek.
She highlighted patterns of fraud impacting the government, including the widespread abuse of the SBA’s 8(a) business development programs that offer funding for small businesses, including education and child care organizations, revealed in Minnesota
“It’s a huge cost to the American people when these programs are defrauded,” Loeffler said. “So, we have a whole path, we’re cracking down on that.”…
SBA Investigating $1.2 Trillion in Payments as Part of Fraud Investigation: Loeffler
