‘I Have Never Seen Anything Like It’: Bank Of America Says Fraudsters Have Stolen $2B In California EDD Funds
LAPPL News Watch
December 8, 2020
The California Employment Development Department Monday continued to reel from unprecedented scams carried out by fraudsters, many of them prisoners in the state duping the system with mind-boggling ease.
Bank of America, which contracts with EDD to distribute unemployment benefits said in a Monday statement: “Our assessment is that there is activity consistent with fraud in those accounts on the order of approximately $2 billion. … We also have detailed instances in which criminals not only withdrew initial funds provided by the State, but sought and received additional ‘temporary’ credit from Bank of America … essentially attempting to double-dip the fraudulent removal of funds.”
Compounding the horrific scheme, the victims were people like Bradley Hunt, whose EDD money the scammers stole. “One day, I was like just going to get food or going to pay a bill or something and I saw that I had no money, like insufficient funds,” he said.
2 comments:
Ha Ha Ha! California won't see that money again. I'll bet the commissary is doing a brisk business. Convicts families are also doing well. Don't worry citizens, California will make this right with more of your hard earned money.
If you make it easy for people to steal, many of them will steal.
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