Secret Service Recovers Over $286M In Fraudulent Pandemic Loans

At a glance

  • Alleged conspirators submitted Economic Injury Disaster Loan applications by using fake, stolen employment and personal information.
  • Secret Service said Friday money will be return to Small Business Administration.
  • Alleged fraudsters used online bank to conceal, move ill-gotten money.
  • Secret Service worked with the bank to identify roughly 15,000 accounts.
  • “Forfeiture effort and those to come are a direct and necessary response to the unprecedented size and scope of pandemic relief fraud,” FBI’s Kevin Chambers.

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