Broken Arrow Man Pleads Guilty After Illegally Applying for and Receiving a $20,665 Loan
Summary
A press release from USAO - Oklahoma, Northern, published February 21, 2023, announces that Malcolm Andre Jones, 31, of Broken Arrow, pleaded guilty to wire fraud, as announced by U.S. Attorney Clint Johnson. It states that in the plea agreement Jones admitted devising a scheme to defraud the Small Business Administration, submitting a false Paycheck Protection Program loan application to Capital PF that claimed a landscaping business and business-related use of all proceeds. The release says that after Jones obtained the funds in March 2021, the proceeds went to miscellaneous non-business expenses, including paying bills and purchasing a couch and an automobile, and that Jones then submitted a forgiveness application and was granted forgiveness.
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“Broken Arrow Man Pleads Guilty After Illegally Applying for and Receiving a $20,665 Loan.”
Original at www.justice.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-02-21-broken-arrow-man-pleads-guilty-after-illegally-applying-for-9e13165efd/
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A man who received $20,665 from the Small Business Administration after fraudulently applying for a Paycheck Protection Program loan pleaded guilty Tuesday in federal court, announced U.S. Attorney Clint Johnson. Malcolm Andre Jones, 31, of Broken Arrow, pleaded guilty to wire fraud . In his plea agreement, Jones admitted that he devised a scheme to defraud the Small Business Administration of the funds. Specifically, Jones knowingly submitted a false and fraudulent Paycheck Protection Program loan application to Capital PF, a Small Business Administration approved lender. The loan application Jones prepared and submitted falsely claimed that he operated a landscaping business and that all loan proceeds would be used for business-related purposes. Instead, when he obtained the funds in March 2021, he used the loan proceeds for miscellaneous non-business expenses, including paying bills and purchasing a couch and an automobile. Jones further fraudulently submitted a forgiveness application for the loan and was granted forgiveness based on his submission. The Board of Governors of the Federal Reserve System and Bureau of Consumer Financial Protection- Office of Inspector General and the Small Business Administration-Office of Inspector General conducted the investigation. Assistant U.S. Attorney Richard M. Cella is prosecuting the case. To learn more about the Justice Department’s COVID response and to report COVID-19 fraud, visit: https://www.justice.gov/coronavirus . For further information on the Criminal Division’s enforcement efforts on PPP fraud, including court documents from significant cases, visit the following website: https://www.justice.gov/criminal-fraud/ppp-fraud .
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