A fraudster who illegally obtained five Covid loans at the height of the pandemic has been jailed. Cardiff-based Rupali Wagh fraudulently applied for £216,250 in Bounce Back Loans for her four companies between May and September 2020.
The 50-year-old inflated the turnover of her businesses to secure the loans and used some of the funds to buy stocks and shares. She also obtained two loans for one of her companies when businesses were only entitled to a single loan. Wagh pleaded guilty to five counts of fraud when she appeared at Cardiff Crown Court in November 2025. She was jailed for two years and three months when she appeared at Merthyr Tydfil Crown Court on Friday, 17th July.
Wagh’s first fraudulent application…