SHREVEPORT, La. – A brazen scheme to siphon off millions in fraudulently obtained funds ended with a 46-month federal prison sentence for Chukwuma N. Okoye, Jr., 38, of Dallas, Texas. Okoye was sentenced by U.S. District Judge Donald E. Walter and ordered to pay a staggering $2,379,860 in restitution after pleading guilty last November to one count of conspiracy to use unauthorized access devices.
The operation, conducted between July and September 2020, saw Okoye and his accomplices traveling from Texas to Bossier City, Louisiana, targeting a Walmart on Airline Drive. There, they deployed a network of prepaid Green Dot debit cards – registered using stolen personal information – to purchase money orders and extract cash. The cards weren’t loaded with legitimate funds; they were the endpoint for a complex flow of stolen money.
Federal investigators traced the illicit funds back to Washington State unemployment insurance benefits and Small Business Administration (SBA) loans obtained through fraud by currently unknown individuals. These funds were initially deposited into PayPal accounts before being funneled onto the Green Dot cards. From there, the money was spent at both online and brick-and-mortar retailers, a classic laundering technique. The scheme involved 29 separate PayPal accounts, collectively holding $729,300 in stolen funds which have since been seized.
The U.S. Secret Service and the Bossier Parish Sheriff’s Office spearheaded the investigation, revealing a meticulously constructed operation built on identity theft and exploitation of pandemic-era relief programs. Assistant U.S. Attorney Brian C. Flanagan prosecuted the case, bringing Okoye to justice and securing the substantial restitution order. However, the case isn’t closed entirely.
Okoye’s co-defendants, Patrick N. Madubuko and Barnabas Akporehe, remain at large and are considered fugitives. Authorities are actively seeking information regarding their whereabouts. Anyone with knowledge of their location is urged to contact their local U.S. Secret Service office or submit tips through the U.S. Marshals Service website: www.usmarshals.gov/tips.
This case highlights the growing sophistication of financial fraud schemes and the Secret Service’s continued focus on protecting the integrity of financial systems – even those designed to provide aid during times of crisis. The ripple effects of these crimes extend far beyond the stolen dollars, impacting legitimate recipients of unemployment and SBA assistance.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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