United States Attorney Ronald C. Gathe, Jr. announced that a federal grand jury has returned a four-count indictment charging Adolphus A. Obioha, age 64, of Baton Rouge, Louisiana, with wire fraud and engaging in unlawful monetary transactions.
The indictment alleges that in connection with an alleged scheme to fraudulently obtain over $425,000 in funds under the Economic Injury Disaster Loan (EIDL) Program, Obioha, who operated a medical transport business prior to the onset of the COVID-19 pandemic, submitted multiple fraudulent loan documents to the U.S. Small Business Administration. He allegedly used the EIDL Program funds to purchase a rental property and personal vehicle and to wire nearly $175,000 overseas. The government seized a total of $136,234.09 from multiple bank accounts held by Obioha.
If convicted of these charges, Obioha faces a statutory maximum sentence of fifty years in prison.
This matter is being investigated by the Federal Bureau of Investigation and Treasury Inspector General for Tax Administration. This case is being prosecuted by Assistant Chief Justin M. Woodard of the Gulf Coast Strike Force and Assistant U.S. Attorney Caroline B. Gardner of the U.S. Attorney’s Office for the Middle District of Louisiana.
NOTE: An indictment is an accusation by a grand jury. The defendant is presumed innocent until and unless adjudicated guilty at trial or through a guilty plea.