Man Pleads Guilty to Applying for a Paycheck Protection Program Loan under False Pretenses

U.S. Attorney’s Office – Northern District of Oklahoma, May 6, 2021

A former Tulsa resident who fraudulently applied for a Paycheck Protection Program forgivable loan guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security (CARES) Act pleaded guilty today in federal court, announced Acting U.S. Attorney Clint Johnson.

Adewale Matthew Abel, 51, pleaded guilty to making a false statement to a financial institution. He is scheduled to be sentenced on Aug. 10, 2021.

“Stopping COVID-related fraud continues to be a priority for the Department of Justice. In the past year, this office has charged six defendants, including Mr. Abel, for fraudulent schemes related to Paycheck Protection Program forgivable loans,” said Acting U.S. Attorney Clint Johnson. “I appreciate the diligent work of Assistant U.S. Attorneys Kristin Harrington and Victor Régal who make up my Coronavirus Anti-Fraud Team. Today’s conviction reflects their resolve to hold fraudsters accountable for stealing taxpayer-funded resources needed by America’s small businesses.”

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