A Cardiff businesswoman has been jailed for more than two years after fraudulently obtaining £216,250 through the UK government’s Covid-19 Bounce Back Loan Scheme by making five false loan applications across four companies.
UK website on Saturday said Rupali Wagh, 50, of Harrison Way, Cardiff, secured the loans between May and September 2020 by inflating the turnover of her businesses, obtaining duplicate loans for companies that had already received funding and using much of the money to settle personal debts and buy stocks and shares.
She pleaded guilty to five counts of fraud at Cardiff Crown Court in November 2025 and was sentenced to two years and three months’ imprisonment at Merthyr Tydfil Crown Court on Friday, July 17, following an investigation by the Insolvency Service.
Commenting on the conviction, David Snasdell, Chief Investigator at the Insolvency Service, said: “Rupali Wagh systematically targeted a scheme designed to help genuine businesses survive the pandemic.
“She lied about her turnover, obtained duplicate loans for the same businesses, and used the funds to pay off personal debts and buy stocks and shares.
