Woman jailed for bank fraud charges

A Georgia woman has been sentenced to federal prison on bank fraud charges in Alabama for payments she received through the Paycheck Protection Program.
Pamela Denise Williams, 53, received a 33-month prison sentence, followed by five years of supervised released, according to an announcement by Middle District of Alabama Acting U.S. Attorney Jonathan S. Ross.
Williams pleaded guilty last week, court records show. Authorities said the total intended loss amount from Williams’ fraud exceeded $1.5 million.
According to her plea agreement and other court records, Williams was doing business as Loving Childcare.
On May 26, 2021, Williams applied for a Paycheck Protection Program loan from a credit union located in Alabama’s Chambers County. When she did so, she put false information on the application making herself eligible to receive a larger loan amount.
The Paycheck Protection Program was authorized by the Coronavirus Aid Relief and Economic Security Act to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic.
In her plea agreement, Williams specifically admitted that she “knowingly and fraudulently” overstated her business’s income.
Additionally, in her application Williams falsely represented that the loan proceeds would be used for approved purposes, such as payroll.
However, Williams admitted to diverting the funds for purposes not allowed under the program’s criteria.
In addition to her prison sentence, the judge also ordered Williams to forfeit $121,000 and pay a $15,000 fine.