Vice President JD Vance revealed this week that about $7 billion worth of Small Business Administration (SBA) fraud has been discovered in California, an indicator the theft of federal funds across all departments in the Golden State could well exceed any other state’s.
“I think we have a fraud problem that is much worse in California than it is in Minnesota,” Vance said in an interview Thursday with Newsmax.
The $7 billion number becomes even more daunting when you consider it is only in connection with SBA financing of business grants and loans.
Federal prosecutors have estimated that the total amount for Minnesota could top $9 billion in…
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