Tag Archives: Treasury Department

Treasury Dept Sanctions Giuliani’s Ukraine Cronies

Politico reports: The Treasury Department announced a new spate of sanctions on Monday targeting the “inner circle” of Andrii Derkach, the pro-Russian Ukrainian lawmaker who aided Rudy Giuliani’s efforts to probe unsubstantiated allegations of wrongdoing by President-elect Joe Biden and his family. The department had previously designated Derkach himself for sanctions related to foreign interference in the 2020 election in …

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Mnuchin: $600 Checks Will Start To Go Out Tuesday

CNBC reports: The Trump administration began sending stimulus payments of up to $600 to millions of Americans Tuesday evening as part of the recently passed Covid relief bill, the second such direct payment to Americans amid historic unemployment and ongoing business closures. The second round of payments will be distributed automatically in the following breakdown: up to $600 for eligible …

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Russia Hacked Dozens Of Top Treasury Dept Accounts

CBS News reports: Email accounts used by the Treasury Department’s senior leadership were compromised by suspected Russian government hackers who carried out a massive cyber-espionage campaign against several U.S. federal agencies, according to Senator Ron Wyden of Oregon. The ranking Democrat on the Senate Finance Committee said the “full depth” of the Treasury hack “isn’t known.” Senate Finance Committee staff …

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Trump Admin Stripped Millions From FDNY 9/11 Fund

The New York Daily News reports: The Trump administration admitted Friday to stripping millions of dollars from an FDNY fund that foots healthcare bills for 9/11 survivors and promised to try to put an end to the heartless practice. The administration’s about-face came after the Daily News exclusively reported Thursday that the Treasury Department has over the past four years …

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Two Men Used Fake IDs To Steal $3M In Bailout Funds

More diligent oversight by the Treasury Department: Two South Florida men used fake and stolen identities to steal over $3 million in coronavirus relief funds, authorities said. Jean Fleuridor, 41, of Weston, and Hasan Brown, 44, of Miami, made separate appearances this past week in Miami federal court on bank fraud conspiracy charges, according to court records. According to a …

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DC Man Bought Yacht, Townhouse With Bailout Funds

The Washington Blade reports: A gay former assistant superintendent and contracting liaison for the Catholic Archdiocese of Washington has been charged with fraudulently obtaining more than $2.1 million in funds for personal use from two federal coronavirus relief programs. A statement released on Tuesday by the Office of the U.S. Attorney for the District of Columbia says Kenneth P. Gaughan, …

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Recordings Reveal White House Secretly Worked To Help Christian Groups Snort Up Billions In COVID Handouts

The Freedom From Religion Foundation reports: The audio of two calls between religious leaders and the White House, made available today by FFRF, confirms that the White House secretly worked to give church leaders special access to PPP, ensuring they could receive top dollars from U.S. taxpayers. The first such conference call took place on April 3, just as the …

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DOJ Charges Man With Fraudulently Taking $8.5M In PPP Bailout, Spent Hundreds Of Thousands At Casino

Via press release from the Justice Department: A California man was arrested today and charged with fraudulently seeking over $8.5 million in Paycheck Protection Program (PPP) loans. Andrew Marnell, 40, of Los Angeles, California, was charged by criminal complaint, unsealed today upon his arrest, in the Central District of California with one count of bank fraud. The complaint alleges that …

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Mnuchin’s Ritzy LA Country Club Got Millions In Bailout

The Daily Beast reports: An exclusive California golf course that has counted Treasury Secretary Steven Mnuchin among its members is seeing plenty of the taxpayers’ green. The Riviera Country Club, located in a posh enclave of Los Angeles, received $2 million to $5 million in assistance through the Paycheck Protection Program—a multibillion-dollar initiative intended to carry small businesses and their …

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Multiple Trump Cronies Got “Small Business” Bailouts

The Wall Street Journal reports: The federal government’s Paycheck Protection Program designed to help small businesses weather fallout from the coronavirus pandemic helped a broad swath of organizations, including prominent restaurant chains, law firms and non-profits. Among the recipients the Trump administration disclosed Monday: Boies Schiller Flexner LLP, the law firm headed by antitrust litigator David Boies; Newsmax Media Inc., …

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Feds Lend $700 Million To Trucking Company Currently Being Sued For Overcharging The Feds For Shipping

One day we’ll learn who got the kickbacks: The Treasury Department on Wednesday approved a $700 million loan to YRC Worldwide, a financially-troubled trucking company that is also being sued by the Defense Department (DOD) for overpricing shipping costs. “We are pleased for Treasury to make this loan pursuant to the CARES Act,” Treasury Secretary Steven Mnuchin said in a …

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One Million Dead People Got COVID Stimulus Checks

The Washington Post reports: The federal government sent coronavirus stimulus payments to almost 1.1 million dead people totaling nearly $1.4 billion, Congress’ independent watchdog reported Thursday. The Washington Post previously reported that the Treasury Department and Internal Revenue Service disbursed some payments of up to $1,200 each to dead people. But the astonishing scope of the problem had not been …

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Publicly Traded Companies Took Over $1B In SBA Funds

The Washington Post reports: Publicly traded companies have received more than $1 billion in funds meant for small businesses from the federal government’s economic stimulus package, according to data from securities filings compiled by The Washington Post. Nearly 300 public companies have reported receiving money from the fund, called the Paycheck Protection Program, according to the data compiled by The …

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Mnuchin “Outraged” That NBA Team Took SBA Funds

Business Insider reports: Treasury Secretary Steven Mnuchin on Tuesday slammed the Los Angeles Lakers’ participation in a government relief program meant for small businesses. “I’m a big fan of the team, but I’m not a fan of the fact that they took a $4.6 million loan,” he said on CNBC. “I think that’s outrageous and I’m glad they returned it …

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National Car Seller Got $77M In Small Business Funds

The Washington Post reports: AutoNation, a national network of auto sellers, received more than $77 million in federal small-business funds despite being a company worth billions that employed more than 26,000 people before the pandemic. In response to questions from The Washington Post, AutoNation Executive Vice President Marc Cannon said that the company’s board voted Thursday to return the funds …

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Treasury Department Asks Publicly-Traded Companies To Return Small Business Stimulus Loans After Backlash

ABC News reports: The Treasury Department issued new guidance on Thursday encouraging publicly-traded companies to return their coronavirus stimulus loans by May 7 as Shake Shack and other public companies have faced backlash for receiving funds meant for small businesses. While small business owners struggled to secure loans under the Paycheck Protection Program in the two weeks before the $350 …

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Stimulus Checks Delayed So Trump’s Name Can Appear

The Washington Post reports: The Treasury Department has ordered President Trump’s name be printed on stimulus checks the Internal Revenue Service is rushing to send to tens of millions of Americans, a process that could slow their delivery by a few days, senior IRS officials said. The unprecedented decision, finalized late Monday, means that when recipients open the $1,200 paper …

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Treasury Dept Gives Hunter Biden Docs To Republicans

Yahoo News reports: The Treasury Department has complied with Republican senators’ requests for highly sensitive and closely held financial records about Hunter Biden and his associates and has turned over “‘evidence’ of questionable origin” to them, according to a leading Democrat on one of the committees conducting the investigation. For months, while the impeachment controversy raged, powerful committee chairmen in …

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2019 Budget Deficit Near $1 Trillion, Seven Year High

CNBC reports: The U.S. Treasury on Friday said that the federal deficit for fiscal 2019 was $984 billion, a 26% increase from 2018 but still short of the $1 trillion mark. The gap between revenues and spending was the widest it’s been in seven years. The government said corporate tax revenues totaled $230 billion, up 12%, thanks to a rebound …

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Mnuchin May Gut Obama Rule On Offshore Tax Havens

Bloomberg reports: Treasury Department officials are considering rolling back a tax rule aimed at preventing American companies from moving money offshore to avoid U.S. taxes, according to several people familiar with discussions. Treasury could narrow regulations aimed at preventing U.S. firms from lowering their U.S. tax bills by borrowing from an offshore branch of the company. The department is also …

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