Fraudsters abused Biden's lax policies to steal billions, financial watchdog claims
A financial watchdog claims that lax policies during the Biden administration have led to significant fraud, resulting in billions of taxpayer dollars being lost. OJ Oleka, CEO of the State Financial Officers Foundation, stated that relaxed controls allowed widespread misuse of government benefits. State treasurers are now working to strengthen oversight and recover lost funds.
- ▪The State Financial Officers Foundation reported that $6 billion in taxpayer funds were lost to fraud.
- ▪OJ Oleka criticized the Biden administration for turning off many fraud controls, leading to increased fraud incidents.
- ▪In 2025, state financial officers returned $28 billion to taxpayers, uncovering $5.7 billion in waste and fraud.
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Administration Fraudsters abused Biden's lax policies to steal billions, financial watchdog claims California, Maine and Ohio are some of the states where SFOF CEO OJ Oleka says leaders failed to combat fraud By Andrew Mark Miller , Kiera McDonald Fox News Published May 23, 2026 7:00am EDT Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video SFOF President O.J. Oleka on rooting out the ‘fraud industrial complex’ State Financial Officers Foundation President O.J. Oleka joins Fox News Digital to discuss the $6 billion in taxpayer funds lost to fraud and how state treasurers are leading the fight to reclaim billions for the American people.
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