Feds Suspend 870,000 COVID Borrowers, Charge Dozens

Vice President JD Vance announced Monday in the Kansas City area that the federal government has suspended nearly 870,000 borrowers tied to an estimated $39 billion in suspected fraud in COVID-era small-business loan programs.

He appeared with Attorney General Todd Blanche, FBI Director Kash Patel and Small Business Administration Administrator Kelly Loeffler, who said a summer enforcement push produced felony fraud cases involving roughly $245 million in intended losses to taxpayers.

The Justice Department dubbed the operation the "Heartland fraud surge." It targeted money from the Paycheck Protection Program and the Economic Injury Disaster Loan program.

The Numbers

Accounts of the caseload differ slightly by outlet: CBS News reported felony fraud cases against nearly 80 defendants, while The Daily Wire reported enforcement actions against more than 160 defendants. Both tie the push to about $245 million in intended losses.

Wire's summary of the announcement says 44 U.S. Attorney's Offices and more than 20 federal and state partners took part, and that the suspended borrowers span 45 states, six territories and the District of Columbia.