-
Elon Musk, leader of the Department of Government Efficiency, has revealed that the US Treasury made approximately $100 billion in annual payments to individuals without a Social Security Number or temporary ID.
-
Musk stated that about half of these payments, estimated at $50 billion per year, are likely fraudulent.
-
He described the situation as “utterly insane” and emphasized the need for immediate action.
Elon Musk, leader of the Department of Government Efficiency, has revealed that the US Treasury made approximately $100 billion in annual payments to individuals without a Social Security Number or temporary ID.
Musk made this known in a statement through his X account on Saturday, clarifying what DOGE Team and US Treasury have jointly agreed on in the past few days.
Musk explained that he was told about the suspicious payments, which he described as “extremely suspicious.”
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
READ ALSO: Elon Musk Wealth Reaches $447 Billion Net Worth
He stated, “Yesterday (Friday), I was told that there are currently over $100 billion per year of entitlement payments to individuals with no SSN or even a temporary ID number. If accurate, this is extremely suspicious.”
When Musk asked about the percentage of these payments that might be fraudulent, he was told that about half, estimated at $50 billion per year, were likely fraudulent.
He emphasized, “This is utterly insane and must be addressed immediately.”
Elon Musk Sued by SEC Over Late Disclosure of Twitter Stake
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against tech billionaire Elon Musk, alleging that he failed to disclose his ownership of more than 5% of Twitter stakes in a timely manner before taking over the company in 2022.
According to the SEC, Musk began buying up Twitter shares in early 2022 and crossed the 5% mark on March 14, 2022. Continue Reading Here