Clinton J. Johnson U.S. Attorney | U.S. Attorney for the Northern District of Oklahoma
Victor Kensington Colbert, Jr., 60, has been indicted on two counts of bank fraud related to his operation of the Oklahoma Heartland Heroes Foundation, a nonprofit based in Bixby. The indictment alleges that Colbert submitted at least five applications for federal pandemic relief funds under the CARES Act on behalf of Heartland Heroes. Of these applications, he is accused of securing at least two Paycheck Protection Program (PPP) loans and one Economic Injury Disaster Loan advance totaling approximately $217,000.
According to prosecutors, Colbert provided false documentation indicating that his organization had multiple employees with monthly payroll expenses exceeding $55,000. He also claimed that any funds received would be used to retain workers and maintain payroll or cover other eligible expenses such as mortgage interest, lease payments, and utilities.
The Office of the Inspector General for the Federal Reserve System is leading the investigation. Assistant U.S. Attorney Thomas Buscemi is prosecuting the case.
"An indictment is merely an allegation. The defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law."
The Justice Department's Fraud Section has played a central role in prosecuting fraud schemes targeting pandemic relief programs like PPP. Since the CARES Act was enacted in March 2020 to support small businesses during COVID-19 disruptions, more than 150 defendants have been charged in over 95 criminal cases involving fraudulent PPP activity. Authorities have seized over $75 million from such schemes as well as various assets purchased with illegal proceeds. Additional information can be found at https://www.justice.gov/OPA/pr/justice-department-takes-action-against-covid-19-fraud.
