The loans initially were wired to her account, but they were flagged. The bank recalled one loan and the government seized the other.
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Court documents say Consuelo Jackson also applied for and received more than $46,000 in Economic Injury Disaster loan funding. Consuelo Jackson reportedly stated Extract LLC had eight employees in her loan application. She then wired the funds in five transactions to another account. A warrant was obtained to seize that money as well.
Four people named on the applications told agents they did not work for the company and three of the people said they had never heard of Extract LLC, the release stated.
Bank fraud is a crime punishable by up to 30 years in prison. Making a false statement within the jurisdiction of a federal agency carries a potential maximum sentence of five years in prison.