Owasso Man Sentenced to 4 Years in Prison for Applying for Paycheck Protection Program Loans under False Pretenses

US Attorney’s Office, Northern District of Oklahoma, May 23, 2022

An Owasso man who fraudulently applied for Paycheck Protection Program loans guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security (CARES) Act was sentenced Monday in federal court, announced U.S. Attorney Clint Johnson.

U.S. District Judge Claire V. Eagan sentenced Olusola Ojo, 43, to 48 months in federal prison followed by five years of supervised release. Eagan also ordered Ojo to pay $150,000 in restitution to Stride Bank.

“The U.S. Attorney’s Office continues to pursue justice in cases where fraudsters bilk American taxpayers of funds meant to support vulnerable small business owners and their employees,” said U.S. Attorney Clint Johnson. “Olusola Ojo’s four-year prison sentence should send a message that white collar criminals will be held accountable for their illicit behavior.”

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