‘Biggest fraud in a generation’: The looting of the Covid relief program known as PPP

They bought Lamborghinis, Ferraris and Bentleys.

And Teslas, of course. Lots of Teslas.

Many who participated in what prosecutors are calling the largest fraud in U.S. history the theft of hundreds of billions of dollars in taxpayer money intended to help those harmed by the coronavirus pandemic couldn t resist purchasing luxury automobiles. Also mansions, private jet flights and swanky vacations.

They came into their riches by participating in what experts say is the theft of as much as $80 billion or about 10 percent of the $800 billion handed out in a Covid relief plan known as the Paycheck Protection Program, or PPP. That s on top of the $90 billion to $400 billion believed to have been stolen from the $900 billion Covid unemployment relief program at least half taken by international fraudsters as NBC News reported last year. And another $80 billion potentially pilfered from a separate Covid disaster relief program.

The prevalence of Covid relief fraud has been known for some time, but the enormous scope and its disturbing implications are only now becoming clear.

via www.nbcnews.com

Oh dear.