Philly Man stole nearly $200,000 in PPP funds: Feds
PHILADELPHIA — A former Philadelphia resident has been charged by the federal government with stealing funds under the federal Paycheck Protection Program.
Authorities say Omar White Oliver, 43, formerly of Philadelphia, has been arrested and charged by indictment for his involvement in a scheme to illegally obtain and misappropriate loan proceeds offered through the program. Federal Paycheck Protection (PPP).
Oliver is charged with four counts: two counts of bank fraud and attempted bank fraud, and two counts of money laundering.
Authorities allege Oliver conspired to fraudulently obtain approximately $186,750 in PPP loans by misrepresenting his alleged real estate business, Oliver Twist Real Estate, LLC.
Oliver is accused of making multiple false characteristics of the business, including the number of employees, the salaries paid to them, the payroll taxes paid on those salaries and the intended use of the PPP loan proceeds.
Oliver then used the proceeds of that PPP loan for personal and unauthorized purchases, including a luxury automobile and an American Express platinum card bill, authorities said.
As charged, Oliver also caused a second fraudulent PPP loan application to be submitted for around the same amount in early 2021, but that application was rejected.
“Paycheck Protection Program funds are intended to help small American businesses continue to pay their employees, even as revenues have dropped dramatically due to the pandemic,” said U.S. attorney Jennifer Arbittier. Williams. “The thieves who attempt to take these funds are profiting from the misfortune of others – ripping them off while ripping off all taxpayers who fund the program. Here, the defendant is accused of fraudulently obtaining nearly $200,000 that could have helped businesses and individuals in difficulty, but would instead have paid for personal indulgences.”