US Secret Service seizes $286 million in fraudulently obtained Covid relief funds

US Secret Service investigators have seized $286 million in illegally obtained coronavirus pandemic relief funds, the agency announced Friday.

An investigation run by the service's Orlando, Florida, field office determined conspirators fraudulently submitted small business pandemic relief loan applications "using fabricated or stolen employment and personal information," the agency said. The US Secret Service said criminals used a third-party payment system and over 15,000 accounts to conceal and move illegal funds.

The US Secret Service has ramped up efforts to target criminals who unlawfully obtained pandemic relief funds two years since the coronavirus pandemic begun.

"Since 2020, the Secret Service has seized over $1.4 billion in fraudulently obtained funds and assisted in returning approximately $2.3 billion to state unemployment insurance programs," the agency said Friday, noting it had launched nearly 4,000 investigations.