Ivy sentenced to 18 months in prison for fraud in Oxford
OXFORD, Miss. (WCBI) – Ramirez Ivy has been sentenced to 18 months in prison for fraudulently obtaining a $200,000 Economic Injury Disaster Loan related to the COVID-19 pandemic.
According to court documents and evidence presented at trial in Oxford, Ivy conspired with others to receive the money from the Small Business Administration based on a fraudulent loan application.
In September, the jury found Ivy and his co-defendant Felicia L. Smith guilty on all counts.
Along with the prison sentence, Ivy will have five years supervised release, and must pay $200,000 in restitution to the SBA.
Smith was sentenced to six months in prison – five years of supervised release – and must also pay $200,000 in restitution.
Other individual borrowers have also been charged in connection with the same scheme.
