U.S. Virgin Islands Housing Finance Authority
Coverage of U.S. Virgin Islands Housing Finance Authority in the Nexus archive.
- HUD suspends disaster funding to U.S. Virgin Islands housing authority, saying mismanagement has kept $1.3 billion from hurricane survivors
The U.S. Department of Housing and Urban Development (HUD) suspended disaster funding to the U.S. Virgin Islands’ housing authority due to mismanagement, which has prevented $1.3 billion in hurricane recovery funds from reaching survivors. An investigation found financial mismanagement, inadequate fraud controls, and incomplete housing projects, with only $570 million of $1.9 billion allocated funds spent over nine years.
- US suspends funding for US Virgin Islands' housing authority and accuses it of corruption
The U.S. government suspended funding for the U.S. Virgin Islands' housing authority due to an investigation revealing widespread corruption, financial mismanagement, and improper payments. The housing authority has spent only $570,000 of $1.9 billion in disaster recovery funds nearly nine years after Hurricane Irma and Hurricane Maria, with HUD accusing it of being an 'abysmal steward of taxpayer funds.'
- US Virgin Islands’ housing authority accused of corruption as federal funding is suspended
The U.S. Virgin Islands' housing authority faces accusations of corruption, leading to the suspension of federal funding by the U.S. government. An HUD investigation revealed financial mismanagement, with only $570,000 of $1.9 billion in disaster recovery funds spent since 2017, as residents continue to recover from Hurricane Irma and Maria. The authority is accused of improper payments, inadequate fraud controls, and misuse of funds for administrative costs.