The U.S. differs from other nations.
Fraud, Corruption monitored (slow process)\detected, charges filed, judicial judgement, fines and or incarceration.
For some maybe a slap on the wrist. For others some penalty fee, and incarceration.
What about other nations. China, France, Countries of Africa, Caribbean Island Nations, etc?
BEMA International
December 1, 2023
WASHINGTON,
D.C. –
This week, the United States House of Representatives unanimously passed two
bipartisan bills co-led by Congressman Kweisi Mfume (D-MD-07) that address
the ongoing issue of fraud in the COVID-19 Economic Injury Disaster Relief
Program and the Paycheck Protection Program (PPP). These bills were
introduced alongside Congressman Roger Williams (R-TX-25), Chairman of
the House Committee on Small Business, and Congressman Aaron Bean (R-FL-04).
“The level of fraud in these programs reflects the years-long repercussions
of a 2020 decision by the Trump administration to loosen anti-fraud
protections during the pandemic,” said
Congressman Kweisi Mfume. "That is why I am
proud to be the Democratic co-lead of this legislation, which ensures those
who deliberately stole federal funds are not given a similar opportunity in
the future, and ensures consistent reporting on progress towards returning
stolen funds to the federal government and bringing white-collar criminals to
justice,” he concluded.
Click her or on the image above to view Congressman Mfume's remarks on H.R. 5427.
These measures require the Inspector General of the Small
Business Administration to submit a quarterly report on the fraud found in
small business pandemic relief programs, and prohibits anyone convicted of
crimes relating to financial misconduct or making a false statement with
respect to a small business pandemic relief program from receiving
non-disaster financial assistance from the Small Business Administration
(SBA).
This legislation originated in the U.S. House Committee on Small Business,
where Congressman Mfume serves as Ranking Member of the Subcommittee on
Oversight, Investigations, and Regulations.
Additional
Information on the PPP/EIDL
Fraud Report Act of 2023
- This bill was introduced by Congressman
Mfume and Congressman Aaron Bean (R-FL-04).
- This legislation requires that the
Inspector General of the SBA submit a report to Congress every 3 months
that details the number of borrowers it has found to have engaged in
fraud with respect to PPP loans and Economic Injury Disaster Loan
(EIDL) program loans.
- This report shall include the total
dollar amount of all covered loans that were made, the number and type
of fraud found in both new fraud cases and suspected fraud cases, and
the number of fraud cases resolved to date.
- This bill does not authorize any new
appropriations.
Additional
Information on H.R. 5427
- This bill was introduced by Congressman
Mfume, alongside Congressman Roger Williams (R-TX-25), Chairman of
the House Committee on Small Business, and Congressman Aaron Bean
(R-FL-04).
- This legislation amends Section 16 of the
Small Business Act by adding subsection “(h) assistance prohibition”
which would:
- Prohibit individuals and entities that
are finally convicted of a crime related to financial misconduct or
making a false statement from receiving any non-disaster financial
assistance from the SBA.
- Prohibit a private entity owned in whole
or in part by or managed by any individual to be ineligible to receive
any non-disaster financial assistance from the SBA.
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