470 firms have received taxpayer bailouts. A House Committee has checked the records of 23 of them, and found that 13 of the 23 had unpaid federal taxes of over $220 million.
"Banks and other firms receiving federal money were required to sign contracts stating they had no unpaid taxes...But he said the Treasury Department did not ask them to turn over their tax records."
If the companies knowingly signed a contract with false information, they can be prosecuted for fraud.
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