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National Insurance Crime Bureau

Tulsa Couple Plead Guilty to Bank Fraud After Applying for Paycheck Protection Program Loans under False Pretenses

US Attorney’s Office – Northern District of Oklahoma, Apr. 12, 2021

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

Ibanga Etuk, 41, pleaded guilty to one count of bank fraud and one count of aggravated identity theft on April 9. Teosha Etuk, 33, pleaded guilty to one count of bank fraud on April 6.

“Ibanga and Teosha Etuk exploited the COVID-19 pandemic to steal taxpayer-funded resources from small businesses, and because of this, they are now convicted felons,” said Acting U.S. Attorney Clint Johnson. “The Coronavirus Anti-Fraud Team and our partners at the Small Business Administration, Federal Reserve Board and FBI remain committed to protecting the integrity of critical resources provided by Congress to assist the American people.”

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