KNOXVILLE, Tenn. (WATE) — A Knoxville woman is facing federal charges over accusations that she fraudulently obtained unemployment benefits during the COVID-19 pandemic and used the funds to buy Bitcoin.
Amy Fields, 62, was charged with a substantive money laundering offense and conspiracy to commit money laundering last month. She pleaded not guilty in federal court last month and was released ahead of a trial scheduled for October 6.
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According to a federal indictment, Fields conspired with others to submit fraudulent applications for unemployment insurance benefits to several different states during the COVID-19 pandemic.
Prosecutors say Fields opened several bank accounts as part of the scheme and co-conspirators deposited the benefits into those accounts. She withdrew the funds, often in cash, and deposited the money into Bitcoin ATM machines.
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If convicted, she faces up to 20 years in prison, a fine of up to $500,000, up to three years of supervised release, and restitution and forfeiture…