Rand Paul leads investigation into ‘disturbing’ $5.4B in pandemic fraud as Biden moves to end COVID emergency

EXCLUSIVE: Sens. Rand Paul and Joni Ernst are launching an investigation into over $5.4 billion in small business loan fraud as the Biden administration prepares to wind down the COVID-19 pandemic emergency.

Paul, R-Ky., and Ernst, R-Iowa, sent a letter to Inspector General of the Small Business Administration Monday, demanding an assessment into the “extent” of fraud in the Paycheck Protection Program (PPP).

The senators say their inquiry comes after the Pandemic Response Accountability Committee sounded the alarm in a review released Monday that said $5.4 billion in taxpayer funds were dispensed to “fraudsters.”

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Sen. Rand Paul (R-KY) 
(Greg Nash-Pool/Getty Images)

“On January 30, 2023, the Pandemic Response Accountability Committee (PRAC) released a fraud alert detailing widespread fraud of the Paycheck Protection Program (PPP) and Economic Injury Disaster…