Sens. Paul and Ernst Launch Large-Scale Investigation Into Pandemic Loan Fraud

Sens. Rand Paul and Joni Ernst are launching a large-scale investigation into over $5.4 billion on pandemic loan fraud in the wake of the reports the Biden administration is winding down the COVID-19 pandemic emergency.

Paul, R‑Ky., and Ernst, R‑Iowa, sent a letter to the Inspector General of the Small Business Administration demanding an assessment into the “extent” of fraud in the Paycheck Protection Program (PPP).

The inquiry comes after the Pandemic Response Accountability Committee sounded the alarm following a review that shows 5.4 billion in taxpayer funds were dispensed to “fraudsters.

“On January 30, 2023, the Pandemic Response Accountability Committee (PRAC) released a fraud alert detailing widespread fraud of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL),” Rand and Ernst wr …