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COVID-19 EIDL Program Recipients on the Department of Treasury's Do Not Pay List
We produced this Management Advisory to notify Small Business Administration (SBA) officials of serious concerns about potential improper payments in SBA’s Coronavirus Disease 2019 (COVID-19) Economic Injury Disaster Loan (EIDL) program.Our review of Treasury’s analysis of processed COVID-19 EIDL and emergency EIDL grants from March to November 2020 revealed that SBA’s lack of adequate pre-award controls during this period of review led to 75,180 COVID-19 EIDLs totaling over $3.1 billion and 117,135 emergency EIDL grants totaling over $550 million being disbursed to potentially ineligible...
Florida Woman Convicted of COVID-19 Relief Fraud
A federal jury convicted a Florida woman on Nov. 24 for fraudulently obtaining a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Texas Man Sentenced to More Than Nine Years in COVID-19 Fraud and Money Laundering Scheme
A Texas man was sentenced today to 110 months in prison for his scheme to fraudulently obtain and launder proceeds from more than $1.6 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief and Economic Security (CARES) Act.
Florida Tax Preparer Charged in Connection with $7 Million Loan Fraud Scheme
A Florida tax preparer was charged in an indictment filed in the Eastern District of Pennsylvania yesterday with scheming to fraudulently obtain more than $7 million in Paycheck Protection Program (PPP) loans, Economic Injury Disaster Loans (EIDL) and pre-pandemic Small Business Administration (SBA) loans, and to launder the proceeds of the illegal scheme.
Audit of the Utilization of ARPA Information Technology Modernization Funds at the Railroad Retirement Board
The objectives of this audit are to: 1) obtain, review, and assess agency plans to expend these funds, 2) determine the current status of the RRB IT initiatives to expend all or part of the appropriation, 3) evaluate if the project progress is in accordance with the RRB’s project plan timeline, and reasons for delay, if any, 4) evaluate if the RRB’s goals and timeline are reasonable and attainable to achieve the intended purpose as stated in agency plans, and 5) evaluate the outcomes of the project relative to the anticipated improvements.
State of Florida Compliance and Internal Controls Over Financial Reporting and Federal Awards
This report is included in the Florida Comprehensive Annual Financial Report for the fiscal year ended June 30, 2020, issued by the Chief Financial Officer. The State of Florida’s basic financial statements. The State of Florida’s basic financial statements for the fiscal year ended June 30, 2020, were presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America
Unemployment Insurance Trust Fund: Challenges Ahead
This report details the operation of the New York State UI system, the recent history and specific impacts of the COVID-19 pandemic on the Trust Fund, and steps that can be taken to replenish the Trust Fund balance. Working together, New York State, participating employers and the federal government can develop solutions that restore the Trust Fund while allowing the ongoing economic recovery to continue.
Ohio Department of Job and Family Services: Auditors Report on Unemployment Insurance Fraud
The COVID-19 Pandemic presented the Department with many challenges and obstacles including a sharp increase in the volume of unemployment claims as well as the expansion of regular unemployment benefits by the federal government. The Department did not have the man-power or technology resources to adequately deal with this drastic increase in claim activity and the addition of new federal unemployment funding. The Department’s legacy unemployment System, Ohio Job Insurance (OJI), has been in place since 2004. Due to its age and functionality, it was unable to handle the increased volume of...