RIVERSIDE (CBSLA) â A 59-year-old Temecula man was arrested Wednesday on federal charges that he pilfered hundreds of thousands of dollars from the over $7 million he fraudulently received through the Paycheck Protection Program, using some of it to buy a luxury car and even trying to wire $150,000 of it to the African nation of Mauritania.
Oumar Sissoko was set to be arraigned Thursday in U.S. District Court in Riverside on four counts of wire fraud.READ MORE: 13-Year-Old Boy Arrested For Bringing Loaded Handgun To Kolb Middle School In Rialto
According to federal prosecutors, in May of 2020, Sissoko received a $7.25 million loan for his purported pothole repair company, Road Doctor.
He claimed in his application that Road Doctor was slated to hire 450 full-time employees and had a monthly payroll of $2.9 million, the U.S. Attorneyâs Office said in a news release Wednesday.
However, after receiving the money — which was supposed to go to employee payroll, utility payments, mortgage payments and the like â Sissoko instead bought himself a luxury car for $100,000, the Justice Department alleges.READ MORE: Councilman Mitch O'Farrell Elected President Pro Tempore Of LA City Council
He tried to wire $150,000 to a minerals exploration company in Mauritania for which he claimed to be the CEO, prosecutors said. He made a $100,000 payment to purchase a company in New Hampshire
He also purchased a $6,000 computer.
Itâs unclear if any of the PPP money actually went to Road Doctor.
He faces a maximum sentence of 20 years in prison for each of the four counts.MORE NEWS: San Bernardino County Parks Employee Jason Collins Allegedly Exposed Himself To Coworker At Mojave Narrows Regional Park
The $349 billion PPP program money â which was approved as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES) in late March of 2020 — dried up so quickly that Congress was forced to pass a second relief package in April which includes another $310 billion.