A Blanchard woman was recently sentenced to 22 months in a federal prison for submitting a false PPP loan application.
Sheri Lynn Vickery, 40, will serve the sentence plus she was ordered to pay …
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A Blanchard woman was recently sentenced to 22 months in a federal prison for submitting a false PPP loan application.
Sheri Lynn Vickery, 40, will serve the sentence plus she was ordered to pay $727,300 in restitution for making the false statement to a financial institution.
That’s according to U.S. Attorney Robert J. Troester.
According to public record, from April 2020 through December 2021, Vickery worked as an office manager for Coil Chem LLC, a chemical manufacturing company based in Washington.
On April 7, 2020, Vickery submitted an application for a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) on behalf of Coil Chem.
The PPP was a COVID-19 pandemic relief program that provided forgivable loans to small businesses for job retention and certain other expenses.
The Indictment alleges Vickery inflated Coil Chem’s total payroll costs and misrepresented what the PPP loan proceeds would be used for, ultimately causing $727,300 to be transferred into Coil Chem’s operating bank account.
Troester said Vickery then used the proceeds for impermissible purposes, including to pay off a family member’s personal debts.
Vickery pleaded guilty Sept. 10, 2024, and admitted she knowingly submitted a PPP loan application that contained false representations.
At the sentencing hearing June 16, U.S. District Judge Jodi W. Dishman sentenced Vickery to serve 22 months in federal prison, followed by two years of supervised release and ordered Vickery to pay $727,300 in restitution.
In announcing the sentence, the court noted the nature and circumstances and seriousness of the offense.
The case was the result of an investigation by the FBI Oklahoma City Field Office.
Assistant U.S. Attorney Julia E. Barry prosecuted the case.
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