Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

COVID loan fraud: West Virginia woman accepted over $42K, Justice Department says

COVID loan fraud: West Virginia woman accepted over $42K, Justice Department says

The woman obtained thousands in Paycheck Protection Program (PPP) loans

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.

In addition, she claimed that Momma & Me Boutique earned $69,000 in gross income in 2019.

However, the department notes, the investigation revealed that Ransom's purported business and its trade names had not engaged in substantial business activity before February 2020.

Furthermore, Ransom admitted that she submitted a false IRS Form 1040, Schedule C Profit or Loss from Business in connection with the first loan application she submitted for Renae’s Fashion Consulting.

President Biden after signing the Paycheck Protection Program Extension Act into law at the White House, March 30, 2021.


The woman obtained two PPP loans of $13,937.50 each for Renae’s Fashion Consulting, as well as a loan of $14,375 for Momma & Me Boutique.

Ransom said she later applied to have all three PPP loans forgiven – even though she had not spent the loan proceeds on permissible business expenses.

The SBA forgave her loans in August of last year.

The Justice Department said Ransom has agreed to pay $42,250 in restitution.

She faces a maximum penalty of 20 years in prison, three years of supervised release and a $250,000 fine.

Ransom is scheduled to be sentenced on Nov. 16.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×