Edmond Woman Pleads Guilty to CARES Act Main Street Lending Program Fraud (January 20, 2022)
Summary
U.S. Attorney's Office, Western District of Oklahoma press release dated January 20, 2022 (updated January 21, 2022), headed Edmond Woman Pleads Guilty to CARES Act Main Street Lending Program Fraud. It says Jill Nicole Ford pleaded guilty to bank fraud and money laundering related to a loan obtained through the Main Street Lending Program, which was charged by information on January 7, 2022. The release says Ford obtained the loan from Citizens Bank of Edmond on September 11, 2020, falsely represented how the funds would be used, and used proceeds to pay for construction of a personal home and to buy a luxury SUV. Ford agreed to a restitution order of $252,143.35. The text adds an outcome note of 20 months' imprisonment in November 2023.
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“Edmond Woman Pleads Guilty to CARES Act Main Street Lending Program Fraud (January 20, 2022).”
Original at www.justice.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/doj-u-s-v-jill-nicole-ford-guilty-plea-2022-01-20-text-a078a4ba23/
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# Edmond Woman Pleads Guilty to CARES Act Main Street Lending Program Fraud OKLAHOMA CITY – Jill Nicole Ford pleaded guilty to bank fraud and money laundering related to a loan obtained through the Main Street Lending Program, a lending facility established by the Federal Reserve Board and supported with funding authorized by the CARES Act, announced United States Attorney Robert J. Troester. "On January 7, 2022, Ford was charged by information with fraudulently obtaining a Main Street Lending Program Loan for her business, Oliver & Olivia Apparel, Inc. Public documents filed in the case reflect that Ford obtained the loan from Citizens Bank of Edmond on September 11, 2020, and executed a loan agreement falsely representing she would use Main Street Lending Program funds for working capital and payroll only. She also falsely represented she would not make financial distributions to herself as the owner of Oliver & Olivia Apparel, Inc. The information further alleged that Ford laundered the loan proceeds by using them to pay for construction of her personal home. Other loan funds were used to purchase a luxury SUV for Ford's personal use." Ford pleaded guilty before U.S. District Judge Jodi D. Dishman. At sentencing she faced up to 30 years in prison and a $1,000,000 fine for bank fraud, plus up to 10 years and a $250,000 fine for money laundering. "Ford also agreed the court will enter a restitution order in the amount of $252,143.35." Investigating agencies: the Special Inspector General for Pandemic Recovery (SIGPR), the Oklahoma City FBI Field Office, IRS–Criminal Investigations, the U.S. Secret Service, the Federal Reserve Board Office of Inspector General, and the Small Business Administration Office of Inspector General. Prosecuted by Assistant U.S. Attorney Jessica L. Perry.
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