Cardiff Businesswoman Jailed for Covid Loan Fraud

Rupali Wagh, 50, a businesswoman from Cardiff, was sentenced to two years and three months in prison on July 17, 2025, at Merthyr Tydfil Crown Court for committing fraud under the UK government's Covid-19 Bounce Back Loan Scheme. She pleaded guilty to five counts of fraud after submitting false loan applications across four companies, totaling £216,250.

Wagh's fraudulent activities began in May 2020 when she applied for a £16,250 loan from One2four Account Ltd, falsely declaring a turnover of £65,000, despite the company having a turnover of only £39,000 the previous year. She misappropriated the funds for personal debts and stock purchases.

Subsequent applications for £50,000 from Talensetu UK Ltd and £18,000 from White Coconut Ltd were similarly fraudulent, with Wagh inflating company turnovers. Investigations revealed she attempted to shift blame during inquiries but later admitted to acting alone.

David Snasdel, Chief Investigator at the Insolvency Service, stated that Wagh systematically targeted the scheme designed to support genuine businesses during the pandemic.