Woman Charged with Fraudulently Obtaining Over $1 Million in COVID Relief Funds

Federal Prosecutors Allege Raena Fuller Used Fraudulent Means to Secure SBA Disaster Loan

NEWARK, NJ - A New York woman has been charged with wire fraud after allegedly obtaining more than $1.2 million through fraudulent means, Acting U.S. Attorney Vikas Khanna announced.

Raena Fuller, 28, of Yaphank, New York, made her initial court appearance before U.S. Magistrate Judge José R. Almonte in Newark today.

Alleged Fraudulent Activity

According to the criminal complaint, Fuller was involved in fraudulently securing funds through the Economic Injury Disaster Loan (EIDL) program, a federal initiative under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The program was designed to assist businesses impacted by the COVID-19 pandemic by offering financial aid through the Small Business Administration (SBA).

Prosecutors allege that in September 2021, an application for an EIDL loan was submitted on behalf of a business. However, a representative of the business later confirmed that they never made such an application. Despite this, the SBA approved the request and provided approximately $1.2 million in funding. Authorities claim that Fuller ultimately received a portion of these funds.

Additionally, investigators allege that Fuller engaged in other fraudulent financial activities, including involvement in fraudulent checks, from which she received additional proceeds.

Potential Penalties

The charge of wire fraud carries a maximum sentence of 20 years in prison and a fine of either $250,000, twice the gross profits, or twice the financial losses incurred by the victims, whichever is greater.

Investigation and Prosecution

The investigation leading to Fuller’s arrest was conducted by special agents of the Federal Bureau of Investigation (FBI), Franklin Township Resident Agency, under the direction of Acting Special Agent in Charge Terence G. Reilly, along with special agents of the Internal Revenue Service – Criminal Investigation (IRS-CI), led by Special Agent in Charge Jenifer L. Piovesan in Newark.

The case is being prosecuted by Senior Trial Counsel Andrew Kogan of the U.S. Attorney’s Office Cybercrime Unit in Newark.

Authorities emphasize that the charges against Fuller are merely accusations, and she is presumed innocent unless and until proven guilty in a court of law.