Philly Man Stole Nearly $200K In PPP Funds: Federal Authorities

PHILADELPHIA —A former Philadelphia resident has been federally charged with stealing funds through the federal Paycheck Protection Program.

According to authorities, Omar White Oliver, 43, formerly of Philadelphia, was arrested and charged by Indictment for his involvement in a scheme to unlawfully obtain and misuse loan proceeds offered through the federal Paycheck Protection Program (PPP).

Oliver is charged with four felony counts: two counts of bank fraud and attempted bank fraud, and two counts of money laundering.

Authorities allege Oliver schemed to fraudulently get about $186,750 in PPP loans by making false representations regarding his alleged real estate business, Oliver Twist Real Estate, LLC.

Oliver is accused of making multiple false characterizations about the business, including the number of employees, the wages paid to them, the payroll taxes paid on those wages, and the intended use of the PPP loan proceeds.

Oliver then used those PPP loan proceeds for personal and unauthorized purchases, including a luxury automobile and an American Express platinum card bill, authorities allege.

As charged, Oliver also caused a second fraudulent PPP loan application to be submitted for approximately the same amount in early 2021, but that application was denied.

"Paycheck Protection Program funds are intended to help American small businesses continue paying their employees, even if revenues have dropped dramatically due to the pandemic," United States Attorney Jennifer Arbittier Williams said. "Thieves who attempt to take these funds are taking advantage of others’ misfortune – ripping them off while also ripping off all taxpayers who fund the program. Here, the defendant is charged with fraudulently obtaining nearly $200,000 that could have helped struggling businesses and individuals but instead allegedly paid for personal indulgences."