Gucci dog collars, clothes, a yacht: How one woman allegedly blew $440K in COVID funds

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Federal prosecutors have accused 54-year-old Kimberly Ray-Duncan of fraudulently obtaining over $440,000 in small business loans and grants under the COVID-19 relief program.

The U.S. Attorney’s Office announced Tuesday that Ray-Duncan, of South Holland, was charged with six counts of wire fraud, three counts of money laundering, and two counts of engaging in monetary transactions involving criminally derived property.

Authorities alleged that Ray-Duncan spent the relief money on a Regal 35 Sport Coupe yacht, luxury purses, Gucci dog collars, and high-end sunglasses and scarves.

In the indictment, federal officials said Ray-Duncan falsely represented several aspects of companies she claimed to operate, including the number of employees and how much money each business made.

“Some of the purported businesses did not actually exist,” wrote officials with the U.S. Attorney’s Office in a press release.

Ray-Duncan's arraignment is scheduled for Jan. 19.

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