OKLAHOMA CITY – Jill Nicole Ford, 31, of Edmond, Oklahoma, is facing a hefty prison sentence after pleading guilty today to bank fraud and money laundering. The charges stem from her deliberate deception in securing a loan through the Main Street Lending Program, a federal initiative designed to help businesses survive the COVID-19 pandemic. Ford didn’t use the funds to keep her business afloat; she used them to upgrade her lifestyle.
The Main Street Lending Program, authorized under the $2 trillion CARES Act, aimed to provide crucial financial support to small- and medium-sized businesses reeling from the economic fallout of the coronavirus. But for Ford, owner of Oliver & Olivia Apparel, Inc., it was an opportunity for personal enrichment. According to court documents, Ford secured a loan from Citizens Bank of Edmond on September 11, 2020, with explicit promises that the money would be used solely for working capital and payroll.
Those promises were lies. Federal investigators discovered Ford immediately began diverting the loan proceeds for personal use. Instead of supporting her struggling apparel business, she funneled $252,143.35 into renovating her personal home and purchasing a luxury SUV. The scheme unraveled after an investigation by a multi-agency task force, including the Secret Service, the FBI, and the Special Inspector General for Pandemic Recovery (SIGPR).
Facing mounting evidence, Ford pleaded guilty before U.S. District Judge Jodi D. Dishman. She admitted to making false representations to obtain the Main Street Loan and engaging in financial transactions exceeding $10,000 with the fraudulently obtained funds. The government will seek a restitution order for the full amount of the misused loan proceeds.
The consequences for Ford’s actions are severe. She now faces up to 30 years in prison and a $1,000,000 fine on the bank fraud charge, and an additional 10 years in prison and a $250,000 fine for money laundering. Following any term of imprisonment, she could face up to five years of supervised release, along with a $200 special assessment. Sentencing is scheduled to take place in approximately 90 days.
This case is part of a larger, nationwide effort by the Department of Justice’s COVID-19 Fraud Enforcement Task Force, established to combat pandemic-related fraud. Assistant U.S. Attorney Jessica L. Perry is prosecuting the case. Anyone with information regarding COVID-19 fraud is encouraged to report it to the Department of Justice’s National Center for Disaster Fraud (NCDF).
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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