CHARLESTON, W.Va. – Jasmine Spencer, 32, a Charleston resident, has been sentenced to six months of home detention followed by three years of supervised release and ordered to pay $15,625 in restitution for her role in a COVID-19 Paycheck Protection Program (PPP) loan fraud conspiracy.
Spencer admitted receiving the fraudulent proceeds from a PPP loan guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security Act. She conspired with Kisha Sutton to obtain the loan, which was approved and deposited into her personal accounts in June 2021.
Court documents revealed that Sutton submitted a fraudulent application for Spencer, listing her as a sole proprietor hair stylist with $75,000 in income, when she had never earned such an amount. The IRS Form 1040 Schedule C used to support the claim was also fake.
After receiving the loan, Spencer transferred $3,000 to Sutton and spent the rest on personal expenses. She is among several indicted for conspiring to obtain a total of $140,625 in fraudulent PPP loans.
Sutton was found guilty of aiding and abetting bank fraud and money laundering after a trial and is scheduled for sentencing later this year. The investigation into the scheme was conducted by the FBI, West Virginia State Police, and the West Virginia State Auditor’s Office.
United States District Judge Irene C. Berger imposed the sentence, with Assistant United States Attorneys Jonathan T. Storage and Jennifer D. Gordon and former Assistant United States Attorney Holly Wilson handling the prosecution. Those with information about similar frauds are encouraged to contact the Department of Justice National Center for Disaster Fraud Hotline at 866-720-5721 or file a complaint online.
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Key Facts
- State: West Virginia
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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