United States v. Malcolm Andre Jones

Case summary

Malcolm Andre Jones, 31, of Broken Arrow, pleaded guilty in federal court to wire fraud after receiving $20,665 from the Small Business Administration through a fraudulent Paycheck Protection Program application. In his plea agreement, Jones admitted he knowingly submitted a false PPP loan application to Capital PF, an SBA-approved lender, falsely claiming he operated a landscaping business and that all loan proceeds would be used for business purposes. Instead, after obtaining the funds in March 2021, he spent them on non-business expenses, including bills, a couch, and an automobile. Jones then fraudulently submitted a forgiveness application for the loan and was granted forgiveness based on it.¹

The investigation was conducted by the Federal Reserve Board and Consumer Financial Protection Bureau's Office of Inspector General and the SBA Office of Inspector General. Assistant U.S. Attorney Richard M. Cella is prosecuting the case.¹

Notes

1. U.S. Attorney's Office for the Northern District of Oklahoma, "Broken Arrow Man Pleads Guilty After Illegally Applying For and Receiving a $20,665 Paycheck Protection Program Loan" (original), February 21, 2023. ↩₁ ↩₂

Summary written from the documents on this page; every sentence is sourced.