The US government allocated $5 trillion for pandemic relief, but fraudsters misappropriated at least 6% of that amount. New legislation aims to extend the deadlines for prosecuting fraud related to these funds, specifically targeting the Restaurant Revitalization Fund and the Shuttered Venue Operators Grant. Investigations revealed some prominent celebrities misused these funds for luxury expenditures. Lawmakers stress the need for accountability in using government relief intended for struggling businesses and independent venues.
The US government spent $5 trillion to stimulate the economy during the pandemic, but at least 6% was lost to fraud, prompting new legislative action.
Prosecutors currently have five years to file charges for pandemic-related fraud; legislation could extend this by an additional five years.
The Shuttered Venue Operators Grant program, intended as a lifeline for independent venues, rewarded funds to pop stars who misused the money for luxury items.
Sen. Joni Ernst criticized wealthy individuals who exploited the relief funds, emphasizing that those funds were not meant for extravagant spending.
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