Massive fraud exposed: $1 trillion of stolen pandemic relief funds – WKRC TV Cincinnati

FILE -{ }Top-line estimates of COVID-19 aid fraud are now at $1 trillion, according to LexisNexis Risk Management, making it the largest public fraud in history. (TND){p}{/p}

WASHINGTON (TND)

Top-line estimates of COVID-19 aid fraud are now at $1 trillion, according to LexisNexis Risk Management, making it the largest public fraud in history.

Top-line%20estimates%20of%20COVID-19%20aid%20fraud%20are%20now%20at%20$1%20trillion,%20according%20to%20LexisNexis%20Risk%20Management,%20making%20it%20the%20largest%20public%20fraud%20in%20history.%20(TND)

CEO of Open the Books Adam Andrezejewski joined The National Desks Jan Jeffcoat to discuss the issue.

Its been four years since the pandemic started and still the federal government hasn't given us a top-line estimate. Their estimate of the total fraud, he said. So that's left it to third-party organizations like LexisNexis to come up with an estimate.

Not much has been done to get it back and prosecute the criminals who stole the money.

Andrzejewski argues that the issue couldve been prevented by the use of facial recognition which the federal government is now working on.

There is a stunning $1 trillion and here's how they come to that. They took the admitted improper payments and the unemployment COVID aid program and the government admits to about $200 billion in that program. It's about $0.22 on every dollar. That was paid out, the government says was fraud and so on. $5 trillion of pandemic aid, Andrzejewski said. That's where LexisNexis gets to $1 trillion. It's such a big number.

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Massive fraud exposed: $1 trillion of stolen pandemic relief funds - WKRC TV Cincinnati