Story · United Kingdom
Indian-origin woman sentenced to over two years in UK for Covid loan fraud
Rupali Wagh, a 50-year-old Indian-origin businesswoman based in Wales, was sentenced to two years and three months in prison by a UK court on July 17, 2026, for fraudulently obtaining £216,250 in Covid-19 Bounce Back Loans. She pleaded guilty to five counts of fraud at Cardiff Crown Court in November 2025. Between May and September 2020, Wagh applied for loans for four companies by inflating turnover figures, including for a dormant company. She used the funds to pay off personal debts, buy stocks and shares, and transferred over £25,000 to an account in India. The Insolvency Service investigated and noted she initially tried to blame someone else before admitting she acted alone. The court sentenced her at Merthyr Tydfil Crown Court.
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