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Adepoju Babatunde Salako, 32, of 1700 block of Cheltenham Avenue, has been federally indicted in Colorado on multiple charges related to a widespread fraud scheme targeting COVID-19 relief programs. The charges include six counts of wire fraud, conspiracy to commit wire fraud, conspiracy to commit money laundering, and four counts of aggravated identity theft.
Federal prosecutors allege that between July 2020 and July 2021, Salako participated in a scheme to fraudulently obtain more than $5.6 million in government funds. The scheme involved submitting false applications for Economic Injury Disaster Loans (EIDL) and unemployment insurance benefits across over 30 states using more than 1,000 stolen or fake identities.
Salako and his co-conspirators allegedly laundered the stolen funds through numerous bank accounts and eventually used the money for personal purchases or transferred it overseas. Items bought with the fraud proceeds reportedly included vehicles and solar panels.
The indictment also details that between January and March 2021, Salako submitted approximately 15 fraudulent unemployment claims to the Colorado Department of Labor and Employment (CDLE). Investigators say he used personal information of real Colorado residents, which he found through online search tools like TruthFinder. One of the claims led to a direct payment of $649 to Salako, while other related claims funneled over $15,000 into accounts he controlled.
In addition to the fraud in Colorado, Salako is accused of filing fraudulent unemployment claims in other states including Maryland, Minnesota, New Hampshire, and New York. He also allegedly submitted at least 10 false EIDL applications and one fraudulent Paycheck Protection Program (PPP) loan application using a stolen identity tied to a fake business named Turn-Turn-Turn Woodturning.
The fraudulent claims targeted relief funds created under the CARES Act, a federal law passed in March 2020 to support Americans and businesses impacted by the COVID-19 pandemic. These programs expanded unemployment benefits and offered forgivable loans to help small businesses retain workers.
Salako made his initial court appearance in Denver on June 13, 2025, before U.S. Magistrate Judge Scott T. Varholak. He is presumed innocent unless and until proven guilty.
The case is being investigated by the U.S. Postal Service Office of Inspector General, the IRS Criminal Investigation Division, and CDLE. It is being prosecuted by the Economic Crime Section of the U.S. Attorney’s Office for the District of Colorado.
