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Ranking Member Luetkemeyer and Chairwoman
Velázquez Introduce Bills to Extend Statutes of Limitations on COVID Small Business Fraud Cases
WASHINGTON, D.C. — Today, House Small Business Committee Ranking Member Blaine Luetkemeyer (R-MO) and House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) introduced two pieces of legislation to extend the statute of limitations for certain fraud cases involving the Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster Loan (EIDL) program.
“A core function of this committee is to provide ample oversight over the SBA’s management of emergency relief loan programs. The ongoing fraud and abuse of emergency relief funds by bad actors deserves the time and resources to accurately highlight,” said Ranking Member Luetkemeyer. “This bill does just that. Extending the statutes of limitations from five to ten years gives the time investigators need.”
“Fraudsters that obtained PPP and EIDL loans abused taxpayer funds and took money away from small businesses when they needed relief the most. Anyone that took advantage of a once-in-a-lifetime crisis to line their own pockets with fraudulent loans must be held accountable,” said Chairwoman Velázquez. “These bills will provide the Department of Justice and state and local law enforcement agencies with the time they need to investigate and prosecute these cases
“A core function of this committee is to provide ample oversight over the SBA’s management of emergency relief loan programs. The ongoing fraud and abuse of emergency relief funds by bad actors deserves the time and resources to accurately highlight,” said Ranking Member Luetkemeyer. “This bill does just that. Extending the statutes of limitations from five to ten years gives the time investigators need.”
“Fraudsters that obtained PPP and EIDL loans abused taxpayer funds and took money away from small businesses when they needed relief the most. Anyone that took advantage of a once-in-a-lifetime crisis to line their own pockets with fraudulent loans must be held accountable,” said Chairwoman Velázquez. “These bills will provide the Department of Justice and state and local law enforcement agencies with the time they need to investigate and prosecute these cases
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