Three East Texas men were found guilty of fraud after conspiring to submit false federal loan applications to financial institutions, including the U.S. Small Business Administration, stealing millions of dollars, the Department of Justice says.
According to the U.S. Attorney for the Eastern District of Texas, Olamide Olatayo Bello, 47, of McKinney, Olabode Thomas Ajibola, 54, of Humble, and Dumbor Josephine Baribe, 52, of Wylie, were convicted of conspiracy to commit wire fraud and conspiracy to commit money laundering following a four-day trial on Jan. 16.
Eight other individuals involved in the scheme pleaded guilty before the trial…