WATERVLIET, N.Y. (NEWS10) — A Watervliet woman has pleaded guilty to wire fraud for her submission of a fraudulent Economic Injury Disaster Loan (EIDL) application to the U.S. Small Business Administration (SBA), and in doing so could face up to 20 years in prison. Ouida Cordell, 47, pleaded guilty on Thursday.
As part of her guilty plea, law enforcement says Cordell admitted that on July 13, 2020, she submitted an online application to the SBA for an EIDL for her company, Bashment Entertainment LLC, which falsely inflated Bashment’s annual revenues. Cordell and her company received an EIDL loan worth $149,500 as a result, to which she and her company were not entitled, according to law enforcement.
Cordell’s sentencing is scheduled for June 28. She also faces a fine of up to $250,000 and a term of supervised release of up to 3 years.