December 17, 2021
FLASH: Four of Five banc-serv Defendants Sentenced to Nearly 17 Years Collectively
“Conspiring to defraud any SBA program is a blatant attempt to selfishly rob the nation’s diverse small businesses community from supports that assist them to grow and build our strong economy,” says Special Agent in Charge of the SBA Office of Inspector General’s Central Region. “OIG remains committed to rooting out bad actors and protecting the integrity of SBA programs every day.”
Kerri Agee was sentenced to 68 months (5 years and 8 months) in prison and $2,289,681 in restitution to the Small Business Administration.
Kelly Isley was sentenced to 57 months (4 years and 9 months) in prison and $2,289,681 in restitution to the SBA.
This week, Chad Griffin was sentenced to 28 months (2 years and 4 months) in prison and $685,022 in restitution to the SBA.
Matthew Smith was sentenced to 46 months (3 years and 10 months) in prison along with $1,651,450 in restitution to the SBA.
Nicole Smith, former employee of banc-serv, is the final defendant who has not been sentenced. Her sentencing is scheduled for January 7, 2022.
DOJ Press Release
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