US Treasury launches investigation into nearly US$9 B in contracts for potential fraud and abuse of the Small Business Administration’s  Development Program, aiming to boost oversight and accountability

The action initiates a department-wide review of roughly $9 billion in contracts awarded under preference-based programs amid concerns that large firms may have improperly received set-asides while passing most work to subcontractors. It seeks to identify misuse, strengthen oversight, and ensure that small-business programs operate as intended to support genuinely eligible enterprises…