Breaking…Damning SBA OIG Report

2 loans covered in this report and $1.3M in questioned costs!

Summary:

The SBA did not do their due diligence before issuing the loans. The loans went into default and the G/Tax Payers had to cover them resulting in the $1.3M questioned costs.

THIS IS FIRST IN SERIES OF REPORTS RE: 7 DEFAULTED LOANS

So 2 loans were reported here.

5 loans remain to be reported on.

Interesting….

APPEARS OIG SENT LOANS TO DOJ

"Due to identified suspicious activity, we referred the loan for investigative consideration."

https://www.oversight.gov/sites/default/files/oig-reports/SBA-OIG-Report-18-21.pdf

https://www.oversight.gov/report/sba/high-risk-7a-loan-review-program

>>2631271

DS is probably holding his children over his head. Easy to 'flip custody' in his divorce case.