Feds: NC man used fake businesses in $1.7 million PPP loan scheme

Feds: NC man used fake businesses in $1.7 million PPP loan scheme
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RALEIGH, N.C. (WNCN) – A Garner man is facing federal charges for fraudulently seeking millions in COVID-19 relief funds – and using companies named after “Game of Thrones” characters to do it – according to a release from the United States Department of Justice.

Tristan Bishop Pan, 38, is accused of fraudulently trying to obtain more than $6 million in Paycheck Protection Program loans.

Pan is charged with wire fraud, bank fraud, and engaging in unlawful monetary transactions.

According to the USDOJ, Pan “perpetrated a scheme to submit fraudulent PPP loan applications to federally insured banks.”

Pan submitted fraudulent loan applications on behalf of entities named Pan Insurance Agency, White Walker, Khaleesi, and The Night’s Watch, according to the indictment unsealed on Tuesday.

Pan is accused of making false statements about the companies' employees and payroll.

According to the USDOJ, Pan’s loan applications were backed up by fake documents such as falsified tax filings.

The release states that Pan submitted 14 PPP loan applications for more than $6.1 million and actually received more than $1.7 million in benefits when his Pan Insurance Agency and White Walker PPP loan applications were approved.

The government was able to get some of the loan benefits back.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form.

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