A Virginia Beach woman helped her husband with loan scam that netted $1 million Now, she s going to prison pilotonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pilotonline.com Daily Mail and Mail on Sunday newspapers.
Virginia Beach Man Sentenced for Defrauding Nearly 1,700 Victims in $1 Million Small Business Loan Scam, DOJ Reports Last Updated: Sunday, 11 April 2021 07:56
April 11, 2021 - NORFOLK, Va. – A Virginia Beach man was sentenced last Friday to 10 years in prison for his role in an internet-based loan scam that defrauded nearly 1,700 owners and
prospective owners of small businesses out of $1,076,000, and for fraudulently collecting unemployment benefits during the COVID-19 pandemic.
According to court documents, Ronald A. Smith, 60, and his co-defendant and wife, Terri Beth Miller, 53, set up an internet-based company, Business Development Group, that offered, in exchange for an advance fee, assistance to individuals in preparing applications to obtain loans guaranteed by the Small Business Administration. From August 2012 through February 2018, Smith and Miller solicited potential customers on the basis of false, fraudulent, and misleading statements and representations, i