SBA Finds $200 Billion in Fraudulent PPP Loans, Refers First $22 Billion to Treasury and DOJ
Small Business Administration Administrator Kelly Loeffler said the agency has identified about $200 billion in fraudulent pandemic-era Paycheck Protection Program loans, expanding on the administration’s earlier disclosure that $22 billion in fraudulent small-business loans had been referred for collection. Loeffler said the first $22 billion of the PPP total has been turned over to the Treasury Department for collections and to the Justice Department for prosecution.
The remarks add detail to Vice President JD Vance’s White House anti-fraud push, after he said a day earlier that more than $22 billion in fraudulent small-business loans had been sent to Treasury, alongside actions on Medicaid, contracting and student-aid fraud. Loeffler said the SBA has barred 140,000 people from ever receiving SBA loans again after about $9 billion in fraud, and that inspector general cases have already resulted in jail sentences.
From the sources (9 posts)
@justthenewsVance to host state AGs at White House for meeting on fraud
@jenniferjjacobsA bipartisan group of 15 state AG offices, including Connecticut and Oregon, are on White House campus for anti-fraud meeting with @VP Vance, Stephen Miller and Andrew Ferguson.
@ericldaugh🚨 JUST IN: Vice President Vance CONFIRMS IT — "We've referred over $22 billion in fraudulent small business loans back to the Treasury for collection. We've deferred more than $1.3 billion in fraudulent Medicaid reimbursements that were com
@justthenews"We've recovered taxpayer funds from the $135 billion stolen after the floodgates were opened in the immediate aftermath of COVID." @VP hammered systemic financial corruption at an anti-fraud roundtable with state attorneys general, unveil
@nypostVice President JD Vance touts billions of dollars recovered from fraudsters
@whitehouseRT @HHSGov: HHS 🤝 @WHFraudTF ✅ February 25, 2026: The Trump Administration halted nearly $260 million in Medicaid payments to Minnesota ov…
@ericldaugh🚨 HOLY SMOKES. Trump SBA chief Kelly Loeffler exposes in the Cabinet room she found $200 BILLION in FRAUDULENT PPP loans distributed by the Biden admin... ...and they tried COVERING IT UP. People are now going to jail 🔥 "Think about at th
@rapidresponse47.@SBA_Kelly: "At the @SBAgov, we found $200B in fraudulent PPP loans that the Biden Administration tried to hide, and forgive, and sweep under the rug. We've turned the first $22B of that over to Treasury for collections, and to DOJ for pro
@justthenewsSmall Business Administration head says agency found $200 billion in fradulent pandemic loans