A Coweta man who got away with almost $200,000 in fraudulent Small Business Administration loans pleaded guilty in federal court, announced U.S. Attorney Clint Johnson.
Scott Wayne Jarman, 49, pleaded guilty to two counts of false statement to the United States Small Business Administration.
Jarman faces a maximum statutory sentence of five years of imprisonment and a fine of not more than $250,000.
In his plea agreement, Jarman stated that he submitted false statements and documentation in loan applications to the Small Business Administration on behalf of the business SKT Concessions, which he claimed to own and operate.
On March 30, 2020, Jarman made false representations about SKT Concessions when applying for an Economic Injury Disaster Loan, to include the business being operational, gross revenue, annual operating expenses, cost of goods sold and number of employees. Jarman was able to secure a loan in the amount of $146,171 based on the information submitted.
On April 24, 2020, Jarman made false representations about the business when applying for a Paycheck Protection Program loan, to include gross sales, cost of goods sold, gross profits, and car and truck expenses. As a result of the fraudulent information, he secured a loan in the amount of $45,900.
The investigation was conducted by the Board of Governors of the Federal Reserve System and Bureau of Consumer Financial Protection Office of Inspector General; Small Business Administration Office of Inspector General, and FBI. Assistant U.S. Attorney Cymetra M. Williams is prosecuting the case.
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Key Facts
- State: Oklahoma
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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