Federal authorities arrested Oumar Sissoko, 59, a Temecula man on federal fraud charges that allege he stole hundreds of thousands of dollars from the Paycheck Protection Program (PPP) after getting more than $7 million in PPP loan funds for his company that repairs potholes. Sissoko allegedly got a $7.25 million loan for his company, Road Doctor California LLC, after submitting a PPP loan application in April 2020 claiming that Road Doctor was hiring 450 full-time employees and would have average monthly payroll expenses of $2.9 million. When he applied for the loan, Sissoko represented he would use the funds to hire workers and maintain payroll, or make mortgage interest payments, lease payments and utility payments. Instead, after he got the money, Sissoko allegedly used hundreds of thousands of dollars of the loan proceeds to buy a #100,000 luxury car, paying off a loan on a different luxury car, and buying a $6000 computer. He also made a nonrefundable $100,000 down payment to buy a New Hampshire company, and tried to transfer $150,000 to accounts in the African country of Mauritania associated with a minerals exploration company for which Sissoko purportedly served as CEO.
If convicted, Sissoko faces 20 years in prison for each of the four counts in the indictment.
Remember innocent until proven guilty.