It isn’t every day that the Leader of the Free World announces a criminal investigation and prosecution priority, let alone at the most-watched speech of the year. But that is exactly what happened Tuesday during President Biden’s State of the Union address.
Biden announced the creation of a chief prosecutor for pandemic fraud, stating:
“In my administration, the watchdogs are back. And we’re going to go after the criminals who stole the billions of relief money meant for small business and millions of Americans. And tonight I’m announcing that the Justice Department will soon name a chief prosecutor for pandemic fraud.”
Recently, we predicted that there would be a coming second wave of CARES Act prosecutions for those who fraudulently obtained PPP and EIDL money during the pandemic. With President Biden prioritizing the creation of a chief prosecutor, it appears our prediction was correct.
According to the media, there are some 900 open investigations in pandemic fraud. With the $2.2 trillion (that’s not a typo) of pandemic relief that was quickly shoveled out of the door, we think there will be more targets of this prosecution effort.