Tulsa couple admits fraud in Paycheck Protection Program loan program | Crime News | #phishing | #scams

A Tulsa couple could be sentenced to serve more than three years in prison after they pleaded guilty this week to Paycheck Protection Program loan fraud.

William Mark Sullivan, 49, and Michelle Cadman-Sullivan, 42, each pleaded guilty to conspiracy to commit bank fraud during a hearing in Tulsa federal court.

The couple admitted to applying for multiple PPP loans totaling about $2.7 million during the early weeks of the COVID-19 pandemic using bogus statements and reports.

The plea agreements, both of which require judicial approval, call for Sullivan to serve a prison term ranging from 18 months to 41 months and for Cadman-Sullivan to serve a prison term between 15 and 42 months.

In addition to agreeing to serve prison time, the couple agreed to pay restitution to two banks totaling $742,926, the amount they received illegally.

“The Sullivans applied for and secured numerous Paycheck Protection Program loans fraudulently,” said U.S. Attorney Clint Johnson. “The $743,000 was intended to go to legitimate small business owners who were fighting to serve our community. My office and our federal law enforcement partners will hold accountable anyone who seeks to illegally enrich themselves by misdirecting federal emergency assistance.”

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The indictment alleged that the couple misrepresented the number of businesses they owned and operated; addresses and locations of the companies; time during which the companies purportedly had been in operation; number of employees; names and addresses of employees; monthly payroll amount; wage figures; payroll taxes; and representations about how the PPP funds would be allocated.

The couple submitted multiple applications for the same companies to both of the banks without disclosing that they were submitting duplicative and overlapping applications.


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