Home » Economy » COVID loan fraud: West Virginia woman accepted over $42K, Justice Department says
COVID loan fraud: West Virginia woman accepted over $42K, Justice Department says
FOX Business Flash top headlines for August 4
Check out what’s clicking on FoxBusiness.com.
The Justice Department said Wednesday that a West Virginia woman pleaded guilty to wire fraud – admitting to accepting more than $42,250 in COVID-19 relief loans guaranteed by the Small Business Administration (SBA) under the CARES Act.
According to court documents and a statement, 24-year-old Alexis Ransom, of Logan, applied for three Paycheck Protection Program (PPP) loans from late March 2021 through August of that year for her "purported business."
She claimed her business, Alexis Renae Ransom, operated under the trade names Renae’s Fashion Consulting LLC and Momma & Me Boutique.
Ransom has admitted that she falsely stated Renae’s Fashion Consulting was established in 2019 and had earned $66,900 in gross income in 2019 and 2020.
COLLEGES SCALE BACK COVID PRECAUTIONS FOR FALL, SAYING PANDEMIC PHASE OVER