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By John Dobberstein, Editor
A Broken Arrow man has been indicted by a federal grand jury for allegedly submitting false applications to the U.S. Small Business Administration.
Federal prosecutors said Malcolm Andre Jones, 30, submitted fraudulent Paycheck Protection Program (PPP) loan applications and fraudulent PPP loan forgiveness applications to SBA-approved lenders in Lake Mary, Fla., and Bedford, Texas.
Jones fraudulently submitted one loan and one forgiveness application in his name. He further fraudulently submitted two loans and two forgiveness applications using another individual’s identity, prosecutors said.
The Board of Governors of the Federal Reserve System and Bureau of Consumer Financial Protection Office of Inspector General and U.S. Department of Treasury Inspector General for Tax Administration are the investigative agencies.
