Security News: Non-Profit Leader Convicted of Bank Fraud for False Statements in Applications for Paycheck Protection Program Loans

Source: United States Department of Justice

TULSA, Okla.— A federal jury convicted Victor Kensington Colbert Jr. of two counts of bank fraud for his fraudulent Paycheck Protection Program Loan Applications. Colbert ran the non-profit organization Oklahoma Heartland Heroes Foundation from 2018 until 2022. During the Covid-19 Pandemic, Colbert applied for and received several pandemic-related loans, including two Paycheck Protection Program loans and one Economic Injury Disaster Loan Advance totaling $217,490.