Lexington woman sentenced for wire fraud, money laundering from COVID-19 relief
LEXINGTON, Ky. (WTVQ) — A Lexington woman was sentenced to one year and nine months in prison for wire fraud and money laundering related to COVID-19 relief money.
On April 5, 2021, Sandybell Fierro submitted a false application to the Small Business Administration to obtain an Economic Injury Disaster Loan due to the pandemic, according to her plea agreement.
Fierro falsely wrote that she established a personal services business in 2018, that the business had 17 employees, that she had sold $94,000 worth of goods that year and that the business had a gross revenue of nearly $200,000. However, that business didn’t exist.
She was awarded $206,000 from the EIDL, which she used for her benefit.
In addition to her prison time, she must pay the $206,000 in restitution to the SBA.
The investigation was conducted by the IRS.
