A Miami real estate agent has been sentenced to three and a half years in prison for fraudulently obtaining more than $380,000 in COVID relief loans, which she spent on leasing a Bentley, renting a luxury apartment and having cosmetic procedures.
Daniela Rendon, 31, pleaded guilty to one count of fraud in April 2023 after prosecutors dropped six additional counts of wire fraud, two counts of money laundering, and one count of aggravated identity theft.
Rendon, a mother of three, admitted that her actions were “motivated by insatiable greed.”
She told federal court in Miami on Thursday: “Looking back, it becomes all too tempting to utter the words ‘everyone did it’ as a feeble attempt to rationalize my actions.
“I regret to confess that I once foolishly believed that the victims of my crimes were merely anonymous entities of the United States government.”
Photos posted to her social media account show Daniela Rendon, 31, enjoying a lavish lifestyle funded by COVID relief loans
Rendon used COVID relief funds to lease a 2021 Bentley Bentayga ($181,000 retail price) that she showed off on her Instagram account, pictured
Among other things, the money was used to lease a 2021 Bentley Bentayga, sale price $ 181,000, which she showed off on her Instagram account
U.S. District Judge K. Michael Moore appreciated her remorse and the 30-page thesis she submitted, detailing her remorse.
He sentenced her to the minimum jail time, saving her an additional year behind bars.
Assistant US attorney Jonathan Bailyn recommended a three-and-a-half-year prison sentence, while her attorney, Robert Mandell, asked for a lenient five-year probation.
She could have been sentenced to 20 years in prison for telephony fraud.
“It’s not that easy to see that you’re really stealing from your neighbors, your friends and other citizens,” Moore said, according to The Miami Herald.
“It’s their money that goes into the treasury that makes it possible to have these kinds of programs.”
In the early months of the pandemic, federal funds were poured into businesses to keep them afloat and enable them to pay for their vital overheads.
The Small Business Administration quickly rolled out several pandemic assistance programs, including the Disaster Economic Damage Loans (EIDL) and the Paycheck Protection Program (PPP) loans.
Rendon posted pictures of herself on the social media account wearing nice clothes, going on tropical vacations and traveling on private jets
Rendon calls himself an ‘Ultra Luxury’ broker
Instead of using it to support her business, Rendon used the money to buy a 2021 Bentley, a luxury apartment, cosmetic procedures and shoes.
Rendon was far from discreet when it came to showing off her lavish lifestyle
They are now trying to recover misused funds and prosecute those responsible.
A watchdog report released in June 2023 by the SBA’s Office of Inspector General found that 17 percent of the $1.2 trillion was stolen through fraud.
The estimated fraud breakdown is $136 billion from EIDL programs and $64 billion through PPP loans.
“The pandemic posed a challenge to the entire government,” Hannibal “Mike” Ware, the inspector general, wrote in the report.
“Fraudsters discovered vulnerabilities and coordinated arrangements to evade controls and easily access funds intended for eligible small businesses and entrepreneurs affected by the economic crisis.”
Rendon managed to get hold of the money earmarked for troubled companies by falsifying company records to secure the PPP funds.
Rendon applied for her business loans through the SBA’s Paycheck Protection Program for $371,000 and the Economic Injury Disaster Relief Program for $10,000.
Rendon allegedly funneled $381,000 in relief funds into her personal account despite being strictly for her “Luxury Real Estate” business
The Colombian-born broker fabricated information including sales, payroll, costs, tax information, and the number of employees.
The falsified records were submitted to lenders in New Jersey and Idaho, and the loans were paid directly to her through her business bank account.
Rendon, who calls himself an ‘Ultra Luxury’ realtor Linkedin, then transferred the payments to herself and her circle of friends.
She arranged for a payroll processor in New Jersey to process the loans and reduce the checks that were then written to family and friends.
Rendon did not shy away from the amount of wealth she had accumulated and regularly flaunted herself on her social media accounts and her 33,000 followers.
Among other things, the money was used to lease a 2021 Bentley Bentayga, which is selling for around $181,000, which she showed off on her Instagram account.
The money was also used to rent a luxury apartment in Biscayne Bay, get cosmetic procedures and repair a pair of her designer shoes.