Indictment — No. 4:23-cr-00136 (Dkt. 24, E.D. Tex.)

Summary

A sealed grand jury indictment filed June 15, 2023 as Document 24 in Case 4:23-cr-00136-ALM-BD in the U.S. District Court for the Eastern District of Texas, Sherman Division, naming Olamide Olatayo Bello of McKinney, Texas, and other defendants. Count 1 charges conspiracy to commit wire fraud under 18U.S.C. § 1349 from in or around April 2020, alleging that Bello recruited co-conspirators to use existing or newly created businesses to apply for PPP and EIDL loans, helped fabricate supporting documents and submitted applications online, often from an IP address at Bello's residence. It alleges the defendants spent the funds on cash withdrawals, luxury vehicles, home improvements and international wires, and paid part to Bello. As one example, it states Amur Equipment Finance funded first and second draw PPP loans of $111,332 each to Preferred Oil & Gas Services, LLC in 2021.

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