Brace yourselves, hardworking Americans—massive fraud has been uncovered in Minnesota, and it’s just the beginning of a national scandal.
On a recent Fox News Channel’s “Hannity,” SBA Administrator Kelly Loeffler dropped a bombshell about fraudulent SBA loans in Minnesota, predicting this is merely a preview of similar schemes awaiting discovery across the country, Breitbart reported.
This investigation kicked off around Thanksgiving weekend, when the scale of deceit in Minnesota first came to light.
Initially pegged at a staggering $1 billion, Loeffler confirmed the actual amount of fraud has already climbed far beyond that estimate.
Within just three days of digging, investigators unearthed $3 million in fraudulent transactions—a drop in the bucket, yet a glaring red flag.
It’s no surprise to those of us skeptical of unchecked government handouts that such schemes fester where oversight is lax.
The probe revealed a jaw-dropping 7,900 fraudulent SBA loans tied to roughly 6,900 individuals, with some even bold enough to snag two ill-gotten loans.
These folks aren’t getting off easy—they’ve been slapped onto the SBA’s do-not-lend list, barring them from future disaster loans or funding.
Good luck trying to game the system again; accountability might finally mean something under this administration.
Loeffler didn’t mince words, forecasting handcuffs and jail time for those caught in this web of deceit.
The data from this investigation is being packaged up and handed to federal authorities for the next steps—let’s hope justice is swift.
As Loeffler put it on “Hannity,” “We found about 7,900 fraudulent loans, including about 6,900 individuals. Some of those people had two loans that are never going to be able to do business with the SBA again.”
She continued, “They’re on the do-not-lend list. They will not get a disaster loan. They cannot get SBA funding.”
Loeffler also expressed appreciation for Chairman Comer’s committee work, aligning with the Trump administration to ensure culprits face real consequences, stating, “I’m so grateful to the chairman for holding this committee, but it’s also taking action from those of us in the Trump administration who are in lock step with the chairman and making sure that people do go to jail and that we have accountability for the hardworking American people who are paying taxes every single day.”
Here’s the bottom line: American taxpayers deserve better than watching their dollars vanish into the pockets of fraudsters, and it’s refreshing to see a no-nonsense approach to rooting out this corruption—though one wonders how deep this rabbit hole goes when progressive policies often prioritize speed over scrutiny.
