A Miami real estate agent has been sentenced to three and a half years in prison for fraudulently raising more than $380,000 in COVID relief loans, which she spent on leasing a Bentley, renting a luxury apartment and cosmetic procedures.
Daniela Rendon, 31, pleaded guilty to one count of bank fraud in April 2023 after prosecutors dropped six other counts of bank fraud, two counts of money laundering and one count of aggravated identity theft.
Rendon, a mother of three, admitted her actions were “motivated by insatiable greed.”
She said Thursday in federal court in Miami, “In retrospect, it becomes all too tempting to utter the words ‘everyone did it’ as a feeble attempt to rationalize my actions.”
“It is with regret that I confess that I once foolishly believed that the victims of my crimes were merely faceless entities of the US government.”
Rendon used COVID relief funds to lease a 2021 Bentley Bentayga (retail price $181,000), which she featured on her pictured Instagram account
Rather than use it to support her business, Rendon used the funds to lease a 2021 Bentley, a luxury apartment, cosmetic procedures and shoe purchases
U.S. District Judge K. Michael Moore recognized her repentance and the 30-page thesis she submitted setting forth her remorse.
He sentenced her to the minimum prison term, sparing her another year behind bars.
Assistant US Attorney Jonathan Bailyn recommended a three-and-a-half-year sentence, while her defense attorney, Robert Mandell, called for a lenient sentence of five years’ probation.
She could have been sentenced to 20 years in prison for wire 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 to the Treasury Department that makes these types of programs possible.”
In the early months of the pandemic, federal funds poured into companies to keep them afloat and allow them to pay for their essential overheads.
The Small Business Administration swiftly rolled out several pandemic relief programs, including the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP) loans.
Photos posted to her social media account show Daniela Rendon, 31, enjoying a lavish lifestyle funded by COVID relief loans
The money was used, among other things, to lease a 2021 Bentley Bentayga, retail price 181,000 US dollars, which she presented on her Instagram account
Rendon has posted pictures of herself on her social media account wearing chic clothes, vacationing in the tropics and traveling in private jets
Rendon describes herself as an “ultra luxury” real estate agent
Rendon was anything but discreet when it came to flaunting her lavish lifestyle
They are now attempting to reclaim mis-spent funds and prosecute those responsible.
A surveillance report released in June 2023 by the SBA’s Office of the Inspector General found that 17 percent of the $1.2 trillion was stolen through fraud attempts.
The estimated fraud breakdown is $136 billion through EIDL programs and $64 billion through PPP loans.
“The pandemic has presented a challenge to the entire government,” Hannibal “Mike” Ware, the inspector general, wrote in the report.
“Scammers found vulnerabilities and coordinated plans to circumvent controls and gain easy access to funds intended for legitimate small businesses and entrepreneurs who have been negatively impacted by the economic crisis.”
By falsifying business records to secure PPP funds, Rendon managed to get the money earmarked for troubled companies.
Rendon applied for her business loans through the SBA’s $371,000 Paycheck Protection Program and $10,000 Economic Injury Disaster Relief Program.
Allegedly, $381,000 in aid money was transferred to Rendon’s personal account, although it was intended solely for her “luxury real estate business”.
Born in Colombia, the real estate agent invented information such as income, payroll, expenses, tax information and headcount.
The fake information was forwarded to lenders in New Jersey and Idaho, with the loans being paid directly to her corporate account.
Rendon, who describes herself as an “Ultra Luxury” real estate agent on LinkedIn, then wired the payments to herself and her closest friends.
She arranged for a payroll clerk in New Jersey to process the loans and write checks, which were then made out to family and friends.
Rendon has not shied away from the wealth she has amassed, regularly flaunting 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 sold for around 181,000 US dollars and which she presented on her Instagram account.
The money was also used to rent a luxury apartment in Biscayne Bay, have cosmetic procedures, and repair a pair of her designer shoes.