The Department of Government Efficiency (DOGE) announced a further wave of contract terminations late Saturday, noting that they also identified thousands of cases where more than $300 million in loans were granted to children.
The announcements come as the Elon Musk-led agency continues to root out waste, fraud and corruption in the federal government.
DOGE said it identified that the Small Business Administration (SBA) granted nearly 5,600 loans for $312 million to borrowers whose only listed owner was 11 years old or younger at the time of the loan. The loans were issued in 2020 and 2021 – while the world struggled with the COVID-19 pandemic – and it is unclear what they were used for.
“While it is possible to have business arrangements where this is legal, that is highly unlikely for these 5,593 loans, as they all also used an SSN with the incorrect name,” the agency wrote.
“@DOGE and @SBAgov are working together to solve this problem this week,” they added.
Click this link for the original source of this article.
Author: Marty Kaufmann
This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
About The Author
Discover more from MEK Enterprises Blog - Breaking News, SEO, Information, and Making Money Online!
Subscribe to get the latest posts sent to your email.
