Bank VP Okeke Nabbed in $Millions PPP/EIDL Scam

BROOKLYN, NY – Anuli Okeke, the former vice president and branch manager of Popular Bank, is facing up to 30 years behind bars after a federal jury in Brooklyn yesterday convicted her on all four counts of an indictment: conspiracy to commit bank and wire fraud, wire fraud, bank fraud, and money laundering conspiracy. The verdict caps a one-week trial before United States District Judge Frederic Block, revealing a brazen scheme to pilfer millions from the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) programs during the height of the COVID-19 pandemic.

The Department of Justice, spearheaded by United States Attorney for the Eastern District of New York, Breon Peace, and Principal Deputy Assistant Attorney General Nicole M. Argentieri, brought the case, bolstered by investigations from a multi-agency task force. The SSA-OIG (Gail S. Ennis), FBI (James Smith), FDIC OIG (Patricia Tarasca), Federal Reserve/CFPB OIG (Brian Tucker), and SBA-OIG (Amaleka McCall-Brathwaite) all contributed to the unraveling of Okeke’s operation. This wasn’t a lone wolf; the investigation suggests a network exploited the pandemic relief programs.

“While the global pandemic caused widespread economic and personal harm for so many, the defendant abused her trusted position at a bank to steal millions of dollars from programs designed to keep small businesses afloat and workers on payroll,” Peace stated bluntly following the verdict. “This verdict reaffirms that our Office and law enforcement partners continue to bring to justice those who took advantage of a global crisis to commit crimes.” The scale of the alleged fraud is staggering, highlighting the vulnerability of the emergency relief funds.

Investigators revealed that Okeke allegedly used her position within Popular Bank to facilitate the fraudulent loans, enriching herself while legitimate small businesses struggled to survive. SSA Inspector General Ennis emphasized the exploitative nature of the crime, stating, “The jury’s verdict confirms that Anuli Okeke’s actions were not only criminal but also exploitive, damaging the integrity of programs put in place to help those suffering during a time of national crisis.” The case underscores the lengths to which some individuals will go for personal gain, even during a public health and economic catastrophe.

The FDIC OIG’s Tarasca added, “Today the defendant in this case was held accountable for abusing her position of trust as a banker to facilitate millions of dollars of fraudulent Paycheck Protection Program loans in exchange for kickbacks. The defendant used these stolen funds to enrich herself while small businesses were struggling during the pandemic.” The FDIC OIG, along with other federal agencies, remains committed to safeguarding the nation’s financial system and pursuing those who prey on emergency relief programs.

The collaborative effort of multiple federal agencies sent a clear message: the abuse of pandemic relief funds will not be tolerated. As SBA-OIG Special Agent-in-Charge McCall-Braithwaite put it, “The abuse of critical resources, intended to support small businesses during a time of unprecedented need, will not be tolerated.” Okeke now awaits sentencing, where she faces a maximum penalty of 30 years in prison for her role in this callous and calculated scheme. The Grimy Times will continue to follow this case and report on any further developments.