(Just The News)—An Illinois congressman is calling for the adoption of legislation that would allow for more time to pursue COVID-19 pandemic-era unemployment insurance fraudsters.
The Pandemic Unemployment Fraud Enforcement Act would provide a five-year extension on the statute of limitations for criminally prosecuting those who stole unemployment benefits.
During a recent Ways and Means Work and Welfare Subcommittee hearing, Work and Welfare Chairman Darin LaHood, R-Ill., shared details of the recent conviction in Pennsylvania of a man who stole $59 million in public benefits, including unemployment, and funneled the funds to his co-conspirators in China.
“This is a must pass bill,” said LaHood. “Federal law enforcement agencies are in the middle of litigating hundreds of cases with hundreds more yet to be litigated.”
According to the Department of Justice, there are still 157,000 open UI fraud complaints and 1,648 open investigations. The current statute of limitations is scheduled to expire on March 27, 2025, without Congressional action.
An estimated $100 billion to $135 billion of UI benefits from the pandemic were lost in the greatest theft of taxpayer dollars in American history. Of that, only $5 billion has been recovered.
LaHood said the same people who stole pandemic unemployment benefits are still at work.
“The same groups doing the same thing are happening now,” said LaHood. “This time, criminals are stealing disaster benefits owed to the Los Angeles fire and North Carolina hurricane victims.”
According to the U.S. Department of Labor, over 1,400 people have been convicted of unemployment insurance fraud since the start of the COVID-19 pandemic.
The measure passed out of committee and is headed to the U.S. House floor. Similar legislation which extended the statute of limitations for PPP fraud was passed by Congress.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
