Administrator Loefler [Department Of Justice press conference]: Last month, the SBA referred five hundred and sixty thousand borrowers to the DOJ and Treasury, that's over half a million borrowers, to start collections and prosecutions for twenty-two billion dollars in suspected PPP Fraud [Paycheck Protection Program; COVID-19].
This action was announced in a press conference back in April, but I don't remember hearing about it. Not only were more than half a million loans referred for collection and prosecution, Biden had been protecting them.
"The Biden Administration deliberately protected more than 560,000 borrowers tied to $22.2 billion in potential pandemic-era fraud. During the last Administration, the SBA refused to send the loans to Treasury for collection and failed to refer them to the DOJ. In doing so, the Biden Administration deliberately shielded borrowers in an act of de facto amnesty and loan forgiveness."
https://www.sba.gov/article/2026/04/24/sba-sends-562000-suspected-fraudulent-loans-treasury-collections-totaling-22-billion