Robert J. "Bob" Troester U.S. Attorney | U.S. Attorney for the Western District of Oklahoma
Russell Kim, 63, of Edmond, has pleaded guilty to charges of making a false statement to a financial institution and money laundering. The announcement was made by U.S. Attorney Robert J. Troester.
According to court records, Kim owned R&D 2 Investment Group in Oklahoma City. On April 3, 2020, he applied for a Paycheck Protection Program (PPP) loan through the Small Business Administration. The PPP was designed as a COVID-19 relief program to help small businesses retain jobs and cover certain expenses through forgivable loans. Records indicate that the restaurant operated by R&D had closed in March 2020, prior to Kim’s application. Despite this closure, Kim submitted payroll information for employees who were no longer working at R&D.
As a result of these actions, the bank approved a PPP loan totaling $174,000. On August 12, 2025, Kim was formally charged with making a false statement to a financial institution and money laundering.
Kim entered his guilty plea on September 4, 2025. He admitted that he knowingly provided false information to the bank to secure the PPP loan and subsequently engaged in a monetary transaction exceeding $10,000 using funds obtained from this unlawful activity.
Kim could face up to 40 years in federal prison and fines reaching $1,250,000 at sentencing.
The investigation into this case was conducted by the Internal Revenue Service – Criminal Investigation and the United States Secret Service. Assistant U.S. Attorney Danielle London is prosecuting the case.
Reference is made to public filings for additional information.
