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'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.

Tagged :  world news

Featured

Editorial 08.01.15 | 12:03PM EDT

How To Have The KCON 2015 Experience From Home

Why wait around for KCON 2015 LA coverage when you can have your very own KCON right at home? If you feel like you are missing out, check out some of these tips to feel the full KCON experience!

08.01.15 | 01:31PM EDT

From K-Pop To Web Dramas: Korean Entertainment Industry Insiders Discuss The Next Hallyu Wave

Is a new Korean Wave on the horizon? According to industry insiders, the internet is fostering a new surge in global popularity for all things Hallyu.

Hot Issues 08.01.15 | 12:30PM EDT

Did EXO's Variety Show Appearances Predict The Departure Of Chinese Members Kris, Luhan And Tao?

Fans are uncovering hidden secrets withing EXO's early variety shows that may have predicted former members Kris, Luhan, and Tao leaving the group.

Editorial 08.01.15 | 12:29PM EDT

Wardrobe Inspection: K-Pop's Best Dressed July 2015

Check out our list of best-dressed K-Pop comebacks for the month of July including Nine Muses, Girls' Generation, INFINITE, and more.

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