CHARLESTON A Logan, woman was sentenced in federal court for wire fraud after scheming to collect more than $42,000 in COVID-19 relief loans.
The United States Department of Justice says 25-year-old Alexis Ransom, applied for three Paycheck Protection Program loans for her business under trade-names Renae’s Fashion Consulting LLC and Momma & Me Boutique.
According to the US Attorney’s Office for the Southern District of West Virginia, Ransom admitted she falsely claimed her two trade names were established in 2019 and earned $135,900 in gross income that year and the following year. Investigators found that business and trade names did not participate in significant activity before Feb. 15, 2020.
Federal PPP loans provide financial assistance to small businesses impacted by the COVID-19 pandemic for payroll, mortgages, rent and utilities. The money was appropriated under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Ransom acquired three PPP loans worth $42,250.00, according to court records.
She requested forgiveness on the loans and it was granted Small Business Administration in August 2021.
She was sentenced to five years of federal probation and must pay restitution, according to U.S. Attorney Will Thompson.