Ana Soto, Wire Fraud and Money Laundering, Delaware 2022

A Newark woman has been brought to justice for her role in a multi-million dollar CARES Act fraud scheme. Ana Soto, 41, pleaded guilty to wire fraud and money laundering in connection with the scheme, which targeted the Paycheck Protection Program (PPP) and other small business loan programs established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

According to court documents, Soto submitted 17 fraudulent loan applications between March 30, 2020, and January 24, 2021, in order to obtain loans on behalf of five entities controlled by her or her close relations. The loan applications falsely stated the amount of gross revenues, cost of goods sold, and number of employees, with some even claiming the businesses were in operation at the start of the Coronavirus Pandemic. As a result of these false applications, Soto obtained approximately $246,000, and applied for, but was denied, an additional approximately $500,000 in CARES Act loans.

Soto pleaded guilty to one count of wire fraud and one count of money laundering and faces a maximum penalty of 20 years in prison when sentenced. Chief Judge Colm F. Connolly will determine any sentence after taking into account the U.S. Sentencing Guidelines and other statutory factors.

The scheme was uncovered by the IRS-Criminal Investigation and FBI-Baltimore Division’s Wilmington Resident Office, with the assistance of the U.S. Small Business Administration (SBA). The case is being prosecuted by Assistant U.S. Attorney Lesley F. Wolf.

U.S. Attorney David C. Weiss stated, “Ms. Soto perpetrated her fraud by taking money from programs established to help the country’s small business owners during the early days of a global pandemic. At a time of great uncertainty and vulnerability, the defendant sought to enrich herself through criminal acts. My office remains committed to protecting the integrity of the CARES Act and all government programs. Prosecuting those who defraud the government and steal from their fellow citizens is a priority, and we will aggressively pursue these actors.”

Soto is scheduled to be sentenced by Chief Judge Connolly. Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

Details of the case can be found on the website of the U.S. Attorney’s Office for the District of Delaware, as well as the District Court for the District of Delaware or on PACER by searching for Case No. 21-cr-49-CFC.

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