Wall Street Wizardry
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Wall Street Wizardry

Politics

Report exposes billions in uncovered fraud, waste as watchdog coalition offers support to Trump’s crackdown

by admin February 27, 2026
February 27, 2026
Report exposes billions in uncovered fraud, waste as watchdog coalition offers support to Trump’s crackdown

As the Trump administration appoints Vice President JD Vance to lead a nationwide ‘War on Fraud,’ a coalition of conservative state financial officers says it has already uncovered and stopped billions in taxpayer waste and is pledging to partner with the White House to root out corruption nationwide.

In a Thursday letter to the White House, the State Financial Officers Foundation (SFOF) praised President Donald Trump’s focus on what he called fraud scandals that have ‘resulted in tens of billions of dollars being stolen from American taxpayers,’ writing that such corruption ‘shreds the fabric of a nation’ 

SFOF CEO OJ Oleka told Vance that the group’s 40 conservative state treasurers, auditors and comptrollers across 28 states stand ready to support the administration’s anti-fraud mission, noting they collectively oversee more than $3 trillion in state funds.

The letter accompanied SFOF’s inaugural 2025 Oversight Report, which claims that affiliated state financial officers safeguarded more than $28 billion of waste, fraud, and abuse in 2025 alone.

The report highlights some of the most egregious examples within that $28 billion including in Florida, where Chief Financial Officer Blaise Ingoglia just under $2 billion in excessive spending and in Kentucky, where Auditor Allison Ball found more than $836 million in improper Medicaid payments.

Medicaid fraud has been of particular interest to the Trump administration given the massive fraud scandal that has unfolded in Minnesota and Vance said on Wednesday the administration has ‘decided to temporarily halt certain amounts of Medicaid funding that are going to the state of Minnesota in order to ensure that the state of Minnesota takes its obligations seriously to be good stewards of the American people’s tax money.’

The report also highlights North Carolina, where it says State Auditor Dave Boliek discovered more than $1 billion in lapsed salaries from long term vacancies in the state. Additionally, Utah auditor Tina Cannon identified more than $518 million in fraud, waste and abuse across agencies and nonprofits receiving state and federal funds.

In his letter, Oleka told Vance that SFOF’s members are ‘allies already on the battlefield’ and stand ready to assist the administration in protecting taxpayer dollars.

‘The American people deserve nothing less,’ he wrote.

SFOF argues that state-level financial watchdogs, often elected independently of governors and legislatures, are uniquely positioned to expose mismanagement and enforce fiscal discipline.

With billions already identified at the state level, the group says a coordinated federal-state approach could dramatically expand the scope of fraud detection nationwide, potentially reshaping how taxpayer dollars are safeguarded across the country.

‘By working together, we can protect our nation’s treasure to the fullest extent against every foe and every plot to endanger it,’ Oleka wrote.

Related Article

JD Vance spearheads ‘war on fraud,’ promises to root out taxpayer money ‘stolen’ by illegal immigrants
This post appeared first on FOX NEWS

previous post
DOJ sues 5 more states, demanding access to voter rolls: ‘We will not be deterred’
next post
Bill Clinton faces high-stakes House grilling in Epstein probe after Hillary blasts ‘fishing expedition’

Related Posts

President Trump highlighting US military in a unique...

March 9, 2025

Trump announces plan to award Ben Carson the...

September 22, 2025

Spending bill to avert shutdown successfully beats filibuster...

March 15, 2025

Rand Paul rips JD Vance’s assertion that executing...

September 8, 2025

Trump urged to look into US funding of...

February 3, 2025

Trump tariff plan faces uncertain future as court...

May 31, 2025

Amber Rose defends Charlie Kirk’s widow against online...

February 1, 2026

Venezuelan Nobel Peace Prize winner María Corina Machado...

October 11, 2025

UK government to unseal former ambassador Mandelson documents...

February 24, 2026

ROBERT MAGINNIS: 9 signs Beijing’s Taiwan invasion may...

June 1, 2025

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

      January 26, 2025
    • 2

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 3

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 4

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 5

      Trump re-designates Iranian-backed Houthis as terrorists: ‘Threaten[s] security of American civilians’

      January 23, 2025
    • 6

      US security contractor will take charge of key checkpoint in Gaza as Israeli forces withdraw

      January 25, 2025
    • 7

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • Terms and Conditions
    • Privacy Policy

    Disclaimer: wallstreetwizardry.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2026 wallstreetwizardry.com | All Rights Reserved