A federal jury in Portland has found Peter Igwacho, a 64-year-old Cameroonian national living in Anchorage, Alaska, guilty of wire fraud. The conviction stems from fraudulent applications for pandemic stimulus funds during the Covid-19 crisis.
Court records and trial evidence showed that between April 2020 and October 2021, Igwacho submitted at least five false applications to obtain relief through the Paycheck Protection Program (PPP) and Economic Injury and Disaster Loan (EIDL) program. These programs were established to help small businesses manage financial challenges during the pandemic by providing loans for approved business expenses. However, authorities determined that Igwacho’s sole proprietorship had no legitimate operations, employees on payroll, or the reported revenues stated in his applications.
After receiving funds through these programs, prosecutors said Igwacho used the money for personal purposes rather than on expenses permitted under PPP and EIDL guidelines.
On July 23, 2024, a federal grand jury indicted Igwacho on three counts of wire fraud.
Igwacho could face up to 20 years in prison, a $250,000 fine, and three years of supervised release. Sentencing is scheduled for November 18, 2025.
The Small Business Administration Office of Inspector General and Treasury Inspector General for Tax Administration led the investigation. Robert Trisotto and Meredith Bateman, Assistant U.S. Attorneys for the District of Oregon, prosecuted the case.
“This case was investigated by the Small Business Administration Office of Inspector General and Treasury Inspector General for Tax Administration. It was prosecuted by Robert Trisotto and Meredith Bateman, Assistant U.S. Attorneys for the District of Oregon.”
