WASHINGTON, Sept 10 (Reuters) – As billions of dollars from the economic stimulus plan pour through the U.S. economy, members of Congress, the administration and regulatory agencies are increasingly worried about the risks of fraud.

Earl Devaney told Congress on Thursday the Recovery Accountability and Transparency Board he chairs is investigating those who may have misappropriated stimulus money. His board has “forwarded more than 100 matters to various IGs (inspector generals to ensure heightened scrutiny of specific procurements that board staff has identified as potentially problematic. “We’ve got about nine cases in various U.S. attorneys offices,” he added. “I know from talking to them that they’re very interested in sending some very loud signals early.” The Federal Trade Commission, too, has monitored scams where people have misrepresented their connections to the stimulus in order to convince people to hand over money or sensitive financial information.

It has gotten individuals to dismantle websites promising to help people get money from the $787 billion American Recovery and Reinvestment Act for household bills or, even, “leisure travel,” FTC Chairman Jon Leibowitz told the Senate Committee on Homeland Security and Governmental Affairs. He described the individuals as con artists and hucksters. The FTC cannot criminally prosecute scam artists, such as a telemarketing outfit that he said told Americans they were eligible for $25,000 grants and offered to sell them a $59 book on writing grants, the chairman said, but the agency does refer the cases to state attorneys general, he said. But some legislators questioned if enough was being done. “These funds must be disbursed quickly,” said Maine Senator Susan Collins, the highest ranking Republican on the committee.

Maybe this could be turned into a positive by aggressively uncovering the crooks and vigorously prosecuting them. Yeah, like that’s ever going to happen. Never mind, nothing to see here……