TULSA, Okla. (KFOR) – A Broken Arrow man has allegedly pleaded guilty after illegally applying for and receiving a $20,665 Paycheck Protection Program Loan.
United States Attorney Clint Johnson confirmed Malcolm Andre Jones, 31, of Broken Arrow, pleaded guilty to wire fraud after receiving $20,665 from the Small Business Administration.
Jones, according to US Attorney Johnson, pleaded guilty to wire fraud. In his plea agreement, Jones admitted that he devised a scheme to defraud the Small Business Administration of the funds.
The Board of Governors of the Federal Reserve System and Bureau of Consumer Financial Protection- Office of Inspector General and the Small Business Administration-Office of Inspector General conducted the investigation. Assistant U.S. Attorney Richard M. Cella is prosecuting the case.