News

Katrina $700M Missing: Katrina Relief Funds Gone Questions Emerge, 'Your Guess Is As Good As Mine'

By Staff Writer | April 03, 2013 09:17 PM EDT

Katrina $700M Missing: Katrina Relief Funds Gone Questions Emerge
(Photo : Flickr)

Katrina's $700 million awarded to help hurricane victims fortify their homes from future flood has somehow disappeared.

A report released from the inspector general's office showed that more than 24,000 homeowners who received grants up to $30,000 to elevate their homes either misspent or pocketed the money.

Like Us on Facebook

"The fact of the matter is that the money they received was for a specific purpose and the specific purpose was to elevate these homes to avoid future catastrophes," said David Montoya, the inspector general of the Department of Housing and Urban Development.

"We have $700 million that we can't account for and that certainly did not go to elevating homes and preventing future damage from storms," Montoya said in an interview in his office in Washington.

"This is money we can't afford to lose. This is money that we don't get back and this is money that we can't put toward other disaster victims."

The missing funds were part of nearly $1 billion relief effort of the Louisiana Road Home Program that was meant to help the victims that were hardest hit by the storm to get back on their feet. It was not intended for people to go out and replace their belongings, which is most likely what many did.

"Clearly, to give money out on the front end right after a disaster, when many of these people lost everything, with a promise to do something down the road, I think is counterproductive to what the program was designed to do," said Montoya.

Featured Video : KIM JAEJOONG LAST DRAMA

Tagged :  world news

Featured

Editorial 09.01.14 | 02:41AM EDT

6 Reasons To Be Excited For The Comeback Of 2PM

2PM fans are ready to 'Go Crazy' for the group's highly anticipated comeback. Here are six reasons for everyone to get excited!

Editorial 09.01.14 | 02:02AM EDT

YG Entertainment Returns To Its Hip Hop Roots

WINNER's Mino and Team B's Bobby are ushering in a new age of hip hop at YG. Is Mino The Next G-Dragon?

08.31.14 | 02:44PM EDT

K-Pop Rewind: COOL 'Aloha'

Co-ed trio COOL has made summer music since 1994 (20 years!). As our summer is winding down, why not take a stroll in past and give this old favorite a spin?

Editorial 08.30.14 | 07:33PM EDT

Best K-Pop Songs Of Summer 2014: Male Groups

Summer is winding down and we are here to help you re-live the hottest jams of the season! [Poll]

KpopStarz Is Looking For Enthusiastic Entertainment Contributors Reach Millions On The Web
Real Time Analytics