United States v. Rafael Maturino

Case summary

Rafael Maturino, 40, of Broken Arrow, Oklahoma, pleaded guilty to bank fraud for executing a scheme to defraud First Bank of Owasso when applying for a Paycheck Protection Program loan under false pretenses on April 28, 2020. As part of the plea, the government and Maturino agreed to a sentence of 12 months and one day in prison and restitution of $97,800 to First Bank of Owasso.¹

Maturino applied for the loan on behalf of a company he claimed to own and operate, Maturino Enterprises, Inc., submitting forms that misrepresented the company's payroll expenditures, taxes paid, and employee count. In his plea agreement, he admitted falsely representing on the PPP Borrower Application Form that Maturino Enterprises had an average monthly payroll of $39,152.92 and five employees, and was in operation as of February 15, 2020. He also admitted falsely representing that he would use the loan to retain workers and cover payroll, mortgage interest, lease, and utility payments as the program required.¹

U.S. District Judge Claire V. Eagan sentenced Maturino to 12 months and one day in federal prison, followed by three years of supervised release, and ordered $97,800 in restitution to First Bank of Owasso. He was required to self-surrender July 14, 2021. The Federal Reserve Board and Consumer Financial Protection Bureau's Office of Inspector General, the SBA Office of Inspector General, and the FBI investigated the case; Assistant U.S. Attorney Victor A.S. Régal prosecuted it.²

Notes

1. U.S. Attorney's Office for the Northern District of Oklahoma, "Broken Arrow Man Pleads Guilty to Fraudulently Applying for Paycheck Protection Program Forgivable Loan" (original), March 2, 2021. ↩₁ ↩₂
2. U.S. Attorney's Office for the Northern District of Oklahoma, "Broken Arrow Man Sentenced to Federal Prison After Fraudulently Applying for Paycheck Protection Program Forgivable Loan" (original), June 1, 2021. ↩

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