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A Fake Donald Trump Stole From Fraud-Riddled SBA Relief Program

  • Agency awarded $5,000 to bogus application in president’s name
  • Multiple applicants used names of ‘prominent national leaders’
Bloomberg business news
How Scammers Buried a Small-Business Relief Program

A federal aid program meant for struggling small businesses awarded money to a fraudster posing as President Donald Trump, according to people with knowledge of the matter.

It’s the latest sign of lax controls in the Small Business Administration’s $212 billion Economic Injury Disaster Loan program. The agency’s inspector general warned this week that billions of dollars may have been paid out improperly, and Bloomberg News reported on widespread fraud.