A Mississippi woman has pled guilty in Memphis federal court to defrauding over five-million dollars in Covid loans.
Tennessee Western District U.S. Attorney Reagan Fondren said 42 year old Lisa Evans, of Olive Branch, defrauded the federal Paycheck Protection Program of just over $5.1 million dollars.
The program was intended to help small businesses survive the Covid-19 pandemic.
According to court information, Evans submitted fraudulent loan and fake federal tax documents for individuals who were not entitled to the Paycheck Protection Program.
Once the borrowers received their loan funds, Evans was then paid a kickback of 20-to-30 percent.
She now faces a maximum of 20 years in federal prison on her charge of conspiracy to commit wire fraud.
