Cardiff businesswoman jailed for Covid loan fraud
A Cardiff-based businesswoman, Rupali Wagh, has been sentenced to prison after fraudulently securing £216,250 through the UK government’s Covid-19 Bounce Back Loan Scheme. She made five false loan applications across four companies, inflating turnover figures and obtaining duplicate loans. Much of the money was used to settle personal debts and invest in stocks and shares. The Insolvency Service led the investigation that resulted in her conviction.
What we know
- Rupali Wagh pleaded guilty to five counts of fraud at Cardiff Crown Court in November 2025.
- She was sentenced to two years and three months’ imprisonment at Merthyr Tydfil Crown Court on Friday, July 17.
- The fraudulent loans were obtained between May and September 2020 by inflating business turnover and making duplicate applications.
- Investigators found that she transferred large sums into her personal account and used them for personal expenses, including paying off debts and buying stocks and shares.
- The Insolvency Service is seeking to recover the stolen funds under the Proceeds of Crime Act 2002.
