A North Carolina woman used her $150,000 COVID relief loan to go on a shopping spree at Neiman Marcus, Nordstrom, and Louis Vuitton.
Jasmine Johnnae Clifton applied for a Small Business Administration loan in March, claiming her business suffered losses due to the pandemic.
She created false documents claiming revenue for an online store named Jazzy Jas, which had folded in September 2019.
Her loan application was approved in August 2020, and Jasmine went shopping to get her drip game on point.
She also spent some of the money on furniture and diamonds.
Jasmine was indicted by a grand jury in February for wire fraud in relation to a disaster benefit and fraud in connection with major disaster or emergency benefits.
She faces 30 years for each charge and a possible $1,250,000 fine if convicted.
Source: NY Daily News
This is an example of pure stupidity. There are actual legitimate businesses that need those loans. She now has to deal with the consequences of her fraudulent activity. I hope the jail time and felony charge was worth it..