The Treasury Department has launched an investigation into possible misuse of a Small Business Administration program that awarded federal contracts worth up to $9 billion.
The department said in a news release Thursday that it will conduct a comprehensive audit of all contracts and task orders awarded under preference-based contracting through the SBA’s 8(a) Business Development Program and related initiatives.
“President [Donald] Trump has directed his administration to eliminate fraud and waste wherever it occurs, ensuring that each taxpayer dollar is spent as intended,” Treasury Secretary Scott Bessent said in the release. “Treasury will not tolerate fraudulent misuse of federal contracting programs.
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