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Office of Investigations

The SIGPR Office of Investigations (OI) has the mission to be both proactive and reactive in the prevention, detection, and investigation of fraud, abuse, or misconduct involving CARES Act funds and programs within SIGPR’s jurisdiction.

The CARES Act incorporates the traditional law-enforcement powers for SIGPR OI special agents (SA), specifically the authority to carry firearms, make arrests, and execute warrants.  SIGPR SAs are authorized to perform their duties with the same law enforcement powers as SAs in the other major Offices of Inspector General.

While the OI will pursue any wrongdoers within SIGPR’s jurisdiction, the OI will be focusing much of its efforts on any potential fraudulent or corrupt activity related to the making, purchasing, managing, or sale of loans, loan guarantees, and other investments made by the Secretary of the Treasury under any program established by the Secretary under Division A of the CARES Act.

Division A, Title IV, Subtitle A (Coronavirus Economic Stabilization Act of 2020) provides $500 billion to the Department of the Treasury’s Exchange Stabilization Fund.  These funds roughly include $46 billion for emergency relief to distressed industries—including airlines, businesses important to maintaining national security, and other eligible businesses—with the remaining $454 billion to be used to capitalize a menu of Federal Reserve lending and liquidity facilities designed to support eligible businesses, states and municipalities, and critical financial markets.  Those who make intentional, material misrepresentations with regard to any Subtitle A application process or in their financial reporting to Treasury may be in violation of several criminal statutes, including securities fraud, wire fraud, mail fraud, and false statements.  The OI intends to investigate these potential crimes vigorously.

In the interests of maximizing criminal and civil enforcement, the OI coordinates closely with other law enforcement agencies with the goal of forming law enforcement partnerships, including task force relationships, across the federal government to leverage SIGPR’s expertise and unique position.

Through the OI’s own investigative resources and partnerships with relevant law enforcement agencies and oversight bodies, OI personnel, along with the entire SIGPR team, are committed to robust criminal and civil enforcement efforts against those, whether internal or external to the government, who are involved in fraud or corruption relating to CARES Act funds.