A woman from St. Louis County has been sentenced to five years of probation and ordered to pay restitution for fraudulently obtaining pandemic-related loans. U.S. District Judge Rodney W. Sippel delivered the sentence on Thursday, requiring Melissa T. Stevenson to repay $279,201.
Stevenson, 42, from Jennings, admitted guilt in May to one felony count of bank fraud. She confessed to submitting three fraudulent Paycheck Protection Program (PPP) loan applications between March and December 2021, which resulted in her receiving $263,284. The total amount she must repay includes interest.
The fraudulent applications were made for a business named “Our Love CDS” on two occasions in 2021. In these applications, Stevenson falsely inflated employee numbers and monthly payroll figures and included a falsified IRS Form 940.
Additionally, Stevenson sought another loan under the name “Drinks By Melissa,” again inflating income figures to increase the loan amount she would receive.
According to her plea agreement, Stevenson claimed the funds would be used for retaining workers and other legitimate business expenses allowed under the PPP program but instead spent them on personal expenses such as rent payments, credit card bills, a vehicle purchase, retail shopping, and payments to others.
Furthermore, Stevenson submitted applications for loan forgiveness on some of the PPP loans she obtained by falsely claiming that all proceeds had been spent on payroll costs.
