Damilola Ojo, 31, of Windsor Mill, Maryland, was sentenced to 48 months in federal prison for his involvement in a complex bank fraud scheme exceeding $1.8 million. Ojo also fraudulently obtained a $475,000 COVID-19 relief loan.
U.S. Attorney Erek L. Barron and Special Agent in Charge Andrew McKay of the Treasury Inspector General for Tax Administration (TIGTA) announced the sentencing.
From April 2016 to August 2019, Ojo and his co-conspirators utilized the IRS’s system to obtain fraudulent Employer Identification Numbers (EINs).
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These EINs, along with fake business certificates, were used to open bank accounts and deposit stolen or altered checks, as well as fraudulently obtained wire transfers. Ojo also admitted to participating in a scheme to divert a $475,000 COVID-19 Economic Injury Disaster Loan (EIDL) intended for a charitable foundation in Idaho.
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Evidence found at Ojo’s residence further supported his involvement in the ongoing fraud. Co-conspirator Jamelia Thompson has already been sentenced, while another co-conspirator, Raissa Kaossele, received home confinement. Co-conspirator Victor Ojo awaits sentencing.
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