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Keyword: pandemictheft

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  • US Cracks Down on 'Unprecedented Levels of Fraud' With First COVID Scam Case Against Bank

    09/27/2021 10:53:33 PM PDT · by blueplum · 5 replies
    Newsweek via msn ^ | 27 September 2021 | Alex J. Rouhandeh
    Federal prosecutors brought forth the first case against a bank whose employees allegedly exploited the multi-billion-dollar benefit programs aimed to support small businesses through the COVID-19 pandemic. The case was brought against the former branch manager of Popular Bank in New York. The manager allegedly conspired with other employees of the bank to fraudulently apply for more than $3 million in small business relief loans, according to Reuters. Over 500 individuals have seen charges pertaining to pandemic-relief falsehoods, sparking "unprecedented levels of fraud," said the U.S. Special Inspector General for Pandemic Recovery. While cases of fraud by individuals have surged...