Watervliet Woman Sentenced for Wire Fraud
Summary
Ouida Cordell, 47, of Watervliet, New York, was sentenced to two years of probation for submitting a fraudulent Economic Injury Disaster Loan application to the Small Business Administration, the U.S. Attorney's Office for the Northern District of New York announced on June 26, 2023. Cordell admitted submitting an online EIDL application on July 13, 2020 for Bashment Entertainment LLC with falsely overstated annual revenues. As a result, Cordell and the company received an EIDL loan of $149,500 to which they were not entitled. U.S. District Judge Glenn T. Suddaby also ordered 100 hours of community service and restitution of $149,400. The FBI investigated with help from the New York State Department of Taxation and Finance's Office of Internal Affairs and the Treasury Inspector General for Tax Administration.
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Press Release Watervliet Woman Sentenced for Wire Fraud Monday, June 26, 2023 For Immediate Release U.S. Attorney's Office, Northern District of New York ALBANY, NEW YORK – Ouida Cordell, age 47, of Watervliet, New York, was sentenced today to two years of probation for her submission of a fraudulent Economic Injury Disaster Loan (EIDL) application to the United States Small Business Administration (SBA). United States Attorney Carla B. Freedman; Janeen DiGuiseppi, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI); and Matthew Miraglia, Special Agent in Charge of the FBI’s Buffalo Field Office, made the announcement. As part of her previously entered guilty plea, Cordell admitted that on July 13, 2020, she submitted an online application to the SBA for an EIDL on behalf of her company, Bashment Entertainment LLC (Bashment), that falsely overstated Bashment’s annual revenues. As a result of the fraud, Cordell and her company Bashment received an EIDL loan in the amount of $149,500 for which she and the company were not entitled. EIDLs were low-interest, government-backed loans meant for businesses struggling with the financial effects of the coronavirus pandemic. United States District Judge Glenn T. Suddaby also sentenced Cordell to perform 100 hours of community service, and to pay restitution in the amount of $149,400. The FBI, with assistance from the New York State Department of Taxation and Finance, Office of Internal Affairs, and the U.S. Treasury Inspector General for Tax Administration, investigated this case. Assistant U.S. Attorney Rick Belliss prosecuted this case. Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form . Updated June 26, 2023 Topic Financial Fraud Component USAO - New York, Northern
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