OKC Standard

A federal grand jury indictment was unsealed today, charging Ryan Bloom, 34, of Oklahoma City, with bank fraud. The announcement was made by U.S. Attorney Robert J. Troester.

Between February and September 2023, Bloom served as the owner and manager of Pathfinder HDD, LLC. The company provided boring and drilling services to oil and gas companies and constructed fiber optic communications lines for telecommunications firms. During this period, Pathfinder maintained a bank account with Valliance Bank.

According to the indictment, in February 2023, Bloom executed an agreement with Valliance Bank that provided Pathfinder with a line of credit secured by its accounts receivable. It is alleged that Bloom regularly submitted invoices and other information to Valliance representing these as valid accounts receivable for Pathfinder when most were false and fraudulent. The indictment further alleges that Valliance relied on these false representations and purchased nearly $3 million of Pathfinder’s purported accounts receivable. In August 2023, Pathfinder declared bankruptcy, after which Valliance discovered that at least $2.3 million worth of the purported accounts receivable were fraudulent.

If convicted, Bloom faces up to 30 years in federal prison and a fine of up to $1 million. "The public is reminded this charge is merely an allegation," said Troester, "and that the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt."

The case results from an investigation by the FBI Oklahoma City Field Office. Assistant U.S. Attorney D.H. Dilbeck is prosecuting the case.

Reference is made to public filings for additional information.