Stimulus Funds Given To Companies Currently Under Criminal Fraud Investigation

By
Real Estate Agent

 

According to ProPublica.org, President Obama's stimulus dished out $30 million to companies currently under criminal investigation for, of all things, defrauding the government.

Six companies were responsible for 112 stimulus projects
at military bases all around the country. (source)

The companies were controlled by Craig Jackson, an African-American businessman whose firm, Sanders Engineering, has won awards from the Small Business Administration.

Jackson established various small businesses owned by friends and family.After winning contracts set aside for small, minority businesses, the companies diverted a significant portion of their earnings back to Jackson or one of his companies.

Jackson and his family conspired to hide the connections between the businesses by making false statements and falsifying records.

Over the years, 19 companies controlled by Jackson – including the six that won stimulus contracts – “received more than $700 million in government contracts to which they may not have been legally entitled,”

So much for transparency for this government.  The funds just keep flowing into the hands of people who make a career out of defrauding the government and you the tax payer.

Is this what they call change?

 

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Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

While I'm not surprised at all by this news... how completly sad is it that we have come to expect such fraud.  On a second note... I'm not sure his race matters...

Oct 27, 2009 09:14 AM #1
Rainmaker
244,734
Bonnie Vaughan
Scranton, PA
CNE SFR - Buyers/Sellers - Lackawanna & Surroundin

Tammy,  It's sad that the same kind of fraud goes on with Medicare as well. 

The only reason race plays into this is SBA is encouraged to loan money to minority owned businesses. they give them preferential treatment. The Government does the same thing with awarding contracts.

If you read the whole article it appears to elude to the fact that Jackson might have been a front person.  My take on it was the money got siphoned off to others who were in on this with him not necessarily a minority partner.

Oct 27, 2009 10:40 AM #2
Rainmaker
319,542
Goodbye Active Rain
Out of Real Estate

Bailout is king to the banks because the taxpayers pay for it no matter what the cost...even if it is illegal I suppose.  Gee and derivative debt equals $1.144 Quadrillion and Gov't and personal debt is at $54 trillion  Consume, consume, consume!!  We rule!

Oct 27, 2009 01:57 PM #3
Rainmaker
244,734
Bonnie Vaughan
Scranton, PA
CNE SFR - Buyers/Sellers - Lackawanna & Surroundin

Tony,  If this adminstration has its way there won't be much left to consume.

Oct 27, 2009 02:21 PM #4
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Rainmaker
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Bonnie Vaughan

CNE SFR - Buyers/Sellers - Lackawanna & Surroundin
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