Two Mississippi tax preparers used multiple schemes to defraud $65 million from programs that had been designed to help businesses stay afloat during the coronavirus pandemic, federal prosecutors said this week.

The preparers, Renata Walton, 44, and Nicole Jones, 36, both of Olive Branch, Miss., were indicted on more than 50 counts of wire fraud, money laundering, preparing false tax returns and obstruction of justice, the U.S. Attorney’s Office for the Western District of Tennessee said on Wednesday.

They both pleaded not guilty and were each released on $100,000 bond, court documents show.

Ms. Walton owned R&B Tax Express in Moscow, Tenn., where she and Ms. Jones prepared tax returns.

Federal prosecutors said that the two women contacted small-business clients and asked if they were interested in pandemic-related grant money, according to court records. The women would then file for pandemic-related tax credits on behalf of the clients even though they were ineligible for those funds, officials said.

The money came mostly from the Employee Retention Credit and the Sick and Family Leave Credit programs, court documents show.

The Employee Retention Credit program offered companies thousands of dollars per employee if they could show that the pandemic was hurting their businesses, but that they were continuing to pay workers. Sick and Family Leave Credit offered tax breaks to employers who voluntarily gave their workers paid sick and family leave if they needed to take time off because of the pandemic.