On Friday, President Joe Biden signed two bills that seek to investigate and punish those responsible for fraud under the pandemic relief programs.
Under the two new laws, prosecutors will have ten years to prosecute individuals who commit fraud through the PPP or Covid-19 Economic Injury Disaster Loan programs.
During the signing event on Friday, Biden underlined the importance of extending the statute of limitations for specific pandemic fraud to 10 years to prevent fraudsters from running out of time.
Biden said, “My message to those cheats out there is this: You can’t hide. We’re going to find you. We’re going to make you pay back what you stole and hold you accountable under the law.”
During his remarks, Biden pointed the finger directly at his predecessor, Donald Trump, for neglecting to advocate for protections against fraud in the Covid-19 economic relief programs.
“Not only did the Trump administration let the biggest businesses with the teams of lawyers and accountants to the front of the line, but my predecessor also undermined the watchdogs who were supposed to be on the job to make sure relief went to the mom and pop businesses that were supposed to get in the first place,” said Biden. “In my State of the Union address, I made it clear: The watchdogs are back.”
He said, “American people deserve to know whether their tax dollars are being spent as intended.”
The White House has noted that the President has asked for increased punishments for people who commit fraud on Covid-19 benefits and signed an executive order focused on identity theft in pandemic relief programs, in addition to calling for Congress to adopt extensions of the statutes of limitations.
Federal prosecutors have kept track of fraud involving pandemic relief funding over the years since the coronavirus pandemic began.
So far, over a billion dollars in relief funds collected by scammers have been seized by the US Secret Service. In December, a senior official was appointed to cooperate with law enforcement agencies to address the issue around the country.
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