Dr. Carson of HUD has been a very busy man. And he ordered an audit of HUD. What he discovered from the findings is astounding. With more than $520 BILLION in possible fraudulent activity from the 2015-2016 Obama era years!
As per the Conservative Tribune: The “report revealed that an audit of HUD‘s 2015 and 2016 consolidated financial statements were riddled with so many “pervasive material errors” as to be unacceptable, errors which totaled nearly $520 billion, among other grievous failures on the part of the department.”
This is a partial section of the letter from the Office of Inspector General of HUD. It is regarding the massive fraud they have defined from years 2015 and 2016 during Obama’s Administration. To see the letter in it’s entirety click here:
“The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively. There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion.
These unresolved audit matters relate to (1) the Office of General Counsel’s refusal to sign the management representation letter, (2) HUD’s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development program funds, (3) the $4.2 billion in nonpooled loan assets from Ginnie Mae’s stand-alone financial
statements that we could not audit due to inadequate support, (4) the improper accounting for certain HUD assets and liabilities, and (5) material differences between HUD’s subledger and
general ledger accounts.
This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.”
Yet, hardly any of this is being reported in the main stream media. Recall what happened with Enron as reported by the Conservative Tribune:
“Investors lost an estimated $63 billion when investigators discovered that Enron officials and auditors at the Arthur Anderson accounting firm had knowingly and unethically used loopholes in the law and various accounting tricks to hide billions that had been lost in bad deals and debt from shareholders. Several people ultimately went to jail, and the liberal media used the scandal to excoriate capitalism in general and energy companies in particular.”
HUD has asked for citizen help in nailing some of the people who are out there, basically, taking from our poorest to line their own pockets.
HUD even set up a hotline if you see or know about fraud with HUD. They go to great lengths to make someone feel comfortable in reporting and state: “Help HUD’s Secretary to ensure the integrity of departmental operations by reporting suspected fraud, waste, abuse or gross mismanagement in HUD programs or operations:” Click here if you or if you know someone who would like to file a report on known government fraud while dealing with HUD.
Drop a line below and let us know if you have ever suspected fraud in a HUD environment.
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