Man who admitted to bogus COVID loan scheme sentenced to prison

A Tulsa man who admitted to submitting a bogus software for a COVID-19-related authorities enterprise mortgage was sentenced to jail Monday.

United States District Decide Gregory Frizzell sentenced Adam Winston James, 45, to serve two years in jail after he pleaded responsible in June to aggravated identification theft as a part of a plan to fraudulently receive a Paycheck Safety Program mortgage.

“The U.S. Lawyer’s Workplace and our federal companions will maintain accountable people like Adam James who steal pandemic aid funds paid for by American taxpayers,” stated U.S. Lawyer Clint Johnson. “Right this moment’s sentence displays the Authorities’s resolve to show and prosecute wrongdoers who make the most of nationwide emergencies to personally enrich themselves.”

Federal prosecutors charged James and Rafael Maturino, 41, in late 2020 in reference to a scheme to acquire PPP loans from space banks.

Maturino was sentenced June 1 to serve one 12 months and sooner or later in federal jail after he pleaded responsible in March to financial institution fraud after illegally receiving practically $100,000 in PPP loans.

In James’ case, filed individually, he admitted to utilizing the identities of 5 people to use for PPP loans at an space financial institution, falsely claiming that an organization James was affiliated with employed the people.

 

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