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.
He continued, “I was talking actually to our small business administrator and I think she found probably a half billion dollars of fraud in Minneapolis and the broader Minnesota area. I think she’s found 7 billion dollars worth of fraud in California.”
“This is unfortunately a problem that is much bigger than Minnesota,” he added.
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