Stocks, Economics and Business News: Live Updates

Kevin Chambers, right, was named Thursday to be the Justice Department’s chief pandemic fraud prosecutor. Credit… Pool photo by Kevin ...


Credit…Pool photo by Kevin Lamarque

The Justice Department appointed Kevin Chambers on Thursday to lead its efforts to prosecute fraud and attempted fraud cases related to at least $8 billion in Covid-19 relief funds.

Decision to appoint prosecutor to tackle stimulus fraud follows President Biden’s State of the Union Addresswhere he pledged to prosecute “criminals who stole billions in relief money”.

Mr. Chambers, who served as Associate Deputy Attorney General for the past year, will lead the criminal and civil enforcement efforts and overseeing investigations and prosecutions of allegations of fraud.

Since the start of the health crisis, the federal government has sent approximately $5 trillion to American households, small businesses, schools and other institutions to help the American economy recover from the pandemic. While the money sped up vaccination campaigns across the country, relieved the unemployed and helped schools hire educators to tackle learning loss, the funds also led to a series of high-profile fraud cases. .

In Florida, according to authorities, a woman paid a hitman using part of a $15,000 loan to help struggling small businesses. In Georgia, a man spent $57,000 in coronavirus relief funds to buy a rare pokemon trading card which the federal authorities then seized. And others across the country have spent the relief money to Ferrari, Lamborghini and luxury jewelry, officials said.

Mr Chambers will focus on “big criminal enterprises and foreign actors” who misused the money. These efforts will include the creation of “strike teams” ahead of the department’s next phase of pandemic fraud.

“Our strike teams will augment the department’s existing efforts and include analysts and data scientists to review data, officers to investigate cases, and prosecutors and prosecutors to lay charges and adjudicate cases,” he said. Chambers said in a statement.

The department’s efforts have so far resulted in criminal charges against more than 1,000 defendants and the seizure of more than $1 billion in proceeds from the Economic Disaster Loan Program, which provided loans to small businesses during the pandemic.

Early investigations also indicated that “international organized crime groups” targeted federal programs that distributed unemployment benefits. International and domestic criminals have used stolen identities to apply for benefits, the department said. Since the start of the pandemic, more than 430 people have been arrested and charged with federal offenses related to unemployment insurance fraud, according to the department.

Attorney General Merrick B. Garland established the Covid-19 Fraud Enforcement Task Force last May. It works with other government agencies to prosecute the “guiltiest” criminals.

“We will continue to hold accountable those who seek to exploit the pandemic for personal gain, protect vulnerable populations and uphold the integrity of taxpayer-funded programs,” Garland said in a statement Thursday.

Source Link

COMMENTS

Name

Africa,957,Americas,4373,Art & Culture,16176,Arts,6814,Arts & Design,1919,Asia,3598,Automobile,572,Baseball,836,Basketball,682,Books,4228,Business,5705,Celebrity,2633,Cricket,648,Crime,158,Cryptocurrency,2165,Dance,715,Defense,836,Diplomatic Relations,2496,Economy,1394,Editorial,260,Education,1514,Elections,308,Energy & Environment,3190,Entertainment,23696,Environment,3970,Europe,4557,Faith & Religion,235,Family & Life,817,Fashion & Style,3670,Finance,21880,Food & Drink,4144,Football,1311,Games,97,Gossip,10289,Health & Fitness,4495,Health Care,967,Hockey,271,Home & Garden,920,Humour,994,Latin America,49,Lifestyle,18576,Media,527,Middle East,1758,Movies,2053,Music,2979,Opinion,4077,Other,13207,Other Sports,5484,Political News,11324,Political Protests,2324,Politics,18862,Real Estate,2305,Relationship,106,Retail,3116,Science,2975,Science & Tech,11192,Soccer,381,Space & Cosmos,450,Sports,13587,Technology,3797,Tennis,729,Theater,1970,Transportation,313,Travel,2853,TV,4023,US,1564,US Sports,1481,Video News,3531,War & Conflict,1069,Weird News,998,World,18216,
ltr
item
Newsrust - US Top News: Stocks, Economics and Business News: Live Updates
Stocks, Economics and Business News: Live Updates
https://static01.nyt.com/images/2022/03/11/multimedia/11econ-brf-google-meta/11econ-brf-google-meta-facebookJumbo.jpg%20
Newsrust - US Top News
https://www.newsrust.com/2022/03/stocks-economics-and-business-news-live.html
https://www.newsrust.com/
https://www.newsrust.com/
https://www.newsrust.com/2022/03/stocks-economics-and-business-news-live.html
true
732247599994189300
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content