Dozens of FBI Agents have been seen at multiple homes and businesses in the Monsey and Kiryas Joel communities on Wednesday afternoon.

According to a report by LoHud.com, the raids are part of an investigation into whether Rockland yeshivas properly spent money obtained through the federal government’s E-Rate program, which came into existence in 1998 and today allocates more than $4 billion annually for computer and Internet access across the nation.

There have been no arrests yet, but sources tell News 12 they expect numerous arrests over the next 24 hours.

The FBI has not provided any detail about the raids, releasing a short statement that reads, “Today, the FBI conducted searches in connection with an ongoing fraud investigation. If and when charges are filed, they will eventually become public. This remains an ongoing matter, and we are unable to provide any additional information at this time.”

E-Rate is the commonly used name for the Schools and Libraries Program of the Universal Service Fund, which is administered by the Universal Service Administrative Company (USAC) under the direction of the Federal Communications Commission (FCC). The program provides discounts to assist schools and libraries in the United States to obtain affordable telecommunications and Internet access. It is one of four support programs funded through a Universal Service fee charged to companies that provide interstate and/or international telecommunications services.

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