A Texas trio faces 20 years in prison for defrauding pandemic relief programs

The individuals stand accused of conspiring to submit numerous fraudulent applications for EIDL and PPP loans, seeking millions of dollars in SBA funds.

According to federal officials, three individuals from Texas have been convicted in connection with a COVID-19 fraud scheme.

After a four-day trial, the court found Olamide Olatayo Bello, aged 47 and residing in McKinney, along with Olabode Thomas Ajibola, aged 54 and residing in Humble, and Dumbor Josephine Baribe, aged 52 and residing in Wylie, guilty of conspiracy to commit wire fraud and conspiracy to commit money laundering.

Before the trial, eight additional individuals involved in the scheme admitted their guilt.

According to court documents, Bello, Ajibola, and Baribe colluded to deceive the Small Business Administration (SBA) and unlawfully obtain millions of dollars. Federal authorities have revealed that they orchestrated a scheme by submitting deceitful applications for EIDL and PPP loans, ultimately embezzling millions of dollars that were originally designated to support struggling small businesses amidst the COVID-19 pandemic.

Bello, Ajibola, and Baribe could potentially be sentenced to a maximum of 20 years in federal prison.

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