A South Carolina woman is heading to federal prison after ignoring multiple warnings from the FBI and continuing to launder money stolen from victimized businesses.
Laura Frantz, 62, of Saluda, South Carolina, was sentenced to 27 months in prison after pleading guilty to money laundering. Federal District Court Judge J. Randal Hall handed down the sentence, which also requires Frantz to pay $138,673 in restitution and undergo three years of supervised release after her prison term. Because there is no parole in the federal system, Frantz will serve the full duration of her time behind bars.
The sentence was announced by Margaret E. “Meg” Heap, U.S. Attorney for the Southern District of Georgia.
According to court documents and testimony, the illegal activity occurred between 2020 and 2023 in Richmond County, Georgia. Frantz knowingly participated in financial transactions involving funds obtained through a business email compromise scheme. The digital hustle tricked various companies into transferring large sums of money directly into bank accounts that Frantz controlled, even though she had no legal right to the funds.
Federal agents noticed the activity and stepped in early. The FBI explicitly warned Frantz on multiple occasions that her financial conduct was potentially criminal. Despite those direct warnings, Frantz chose to keep withdrawing and spending the money.
“One cannot simply wash away the origins of illegally obtained money through financial schemes,” U.S. Attorney Heap said. “This guilty plea demonstrates that those who attempt to conceal criminal proceeds will face the consequences.”
The FBI’s Atlanta Office in Augusta led the investigation into Frantz’s accounts.
“The FBI and its partners will relentlessly pursue individuals looking to illegally move funds for illicit purposes,” said Matt Ploskunak, Supervisory Senior Resident Agent for the office. “Anyone engaged in this type of criminal activity should realize they are not outside of the reach of law enforcement.”
Assistant U.S. Attorneys Patricia G. Rhodes and Jennifer S. Thompson prosecuted the case on behalf of the United States.
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