Elon Musk’s Department of Government Efficiency (DOGE) has uncovered that the U.S. Small Business Administration issued about $330 million in loans to people who are either deceased or not yet born.
According to Musk, the investigation revealed some loan recipients had birthdates set far in the future, with one recorded as being born in 2165.
Musk questioned the integrity of the loan process, citing the SBA’s failure to detect fraud involving applicants over 120 years old or not yet born.
The findings suggest significant lapses in verification procedures during loan distributions, particularly around the pandemic period.
Earlier investigations by DOGE had already shown that between 2020 and 2021, the SBA approved thousands of loans for individuals allegedly over 115 years old, including a case where someone listed as 157 years old received a $36,000 loan.
In response, the SBA has begun enforcing tighter identity checks, requiring applicants to submit valid birth dates. The agency has also halted direct loan applications for anyone under 18 or over 120 years old to curb further misuse.
Musk has urged the adoption of advanced technologies like blockchain to ensure transparency and prevent fraud in government operations.
Musk emphasised the need for clean and accurate records, noting that millions of deceased individuals are still listed as alive in federal databases, allowing opportunities for fraudulent activities.
The discovery has sparked broader calls for audits and reforms to improve accountability in the handling of public funds.
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cc: Daily Post Ng
