Citibank Freezes Accounts of Non-Profits

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15 hours ago

Summary

The FBI has requested that Citibank freeze the accounts of 30 nonprofits that received funding from the Greenhouse Gas Reduction Fund, a program aimed at reducing carbon emissions. The move follows concerns raised by EPA Administrator Lee Zeldin about fraud and abuse in the program.

Key Points

The Greenhouse Gas Reduction Fund was established to provide grants for green energy projects, with $14 billion allocated to the National Clean Investment Fund.
Citibank has been administering the funds on behalf of the EPA, but has been ordered to freeze the accounts of several nonprofits due to concerns about fraud and abuse.
The FBI has requested that Citibank place a 30-day administrative freeze on the accounts of the affected nonprofits.

Why It Matters

This move highlights concerns about the potential misuse of funds allocated for green energy projects, and underscores the need for greater transparency and accountability in government programs.

Author

Tim De Chant

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