A Cardiff businesswoman has been jailed after fraudulently claiming more than £200,000 through the government’s Covid-era Bounce Back Loan scheme. The case centres on five loans taken out in 2020 across four companies, with the total amount reaching £216,250.
According to the case details, Rupali Wagh secured the loans by inflating turnover figures and obtaining duplicate loans for some of the businesses. The Bounce Back Loan scheme was introduced during the pandemic to provide rapid financial support to companies, but the prosecution said the funding was claimed dishonestly.
The case shows how emergency business support measures were exploited during the height of the Covid crisis. Investigators found that multiple applications were made across Wagh’s companies, leading to loan payments that should not have been approved under the rules of the scheme.
Her jailing marks another example of enforcement action tied to pandemic financial support fraud. The prosecution underlines the risks for business owners who misrepresent company finances in order to access public funding.
