WASHINGTON, DC - AUGUST 05: U.S. President Joe Biden speaks before signing two bills aimed at combating fraud in the COVID-19 small business relief programs at the White House on August 5, 2022 in Washington, DC. Biden signed into law two bipartisan measures to take action against those who commit fraud in abuse of COVID-19 small-business relief programs. (Photo by Evan Vucci - Pool/Getty Images)
President Joe Biden is making sure that those who have committed fraud under programs that were started to bring relief for businesses during the pandemic face the consequences for their actions.
According to CNN, on Friday, Biden signed two bipartisan bills that will be directed at holding those accountable for committing fraud through the Paycheck Protection Program or Covid-19 Economic Injury Disaster Loan Program. The two laws will elongate the time frame prosecutors have to prosecute individuals who committed fraud through those programs.
During the signing event for the two bills, Biden expressed that it was “essential to extend the statute of limitations for certain pandemic fraud … to 10 years to make sure fraudsters can’t run out the clock.”
Biden continued to share a message for those who have committed fraud and 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.”
Biden also shared that the Trump administration failed to make sure that the relief from the programs went to the right businesses.
“Not only did the Trump administration let the biggest businesses with the teams of lawyers and accountants to the front of the line, my predecessor 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,” he said.
Want updates directly in your text inbox? Hit us up at 917-722-8057 or click here to join!
TSR STAFF: Jade Ashley @Jade_Ashley94
