KANSAS CITY, Kan. (KCTV) – A Kansas City business owner now faces 30 years in prison after she spent money she fraudulently obtained from the government on jewelry and other luxury items.
The U.S. Attorney’s Office for the District of Kansas announced on Wednesday, Oct. 16, that Venester Fayne, 57, of Kansas City, Missouri, has pleaded guilty to charges connected to a fraudulent PPP loan.
Court documents noted that Fayne pleaded guilty to a single count of wire fraud and a single count of money laundering. In May 2020, she applied to the Payroll Protection Program on behalf of a company she controlled at the time.
Court records indicated that Fayne admitted that she received PPP loans, and submitted false federal income tax documents with false information about the company’s gross sales. The documents were never filed with the Internal Revenue Service.
The U.S. Attorney’s Office reminded residents that federal law requires borrowers to use PPP funds only for …