Complaint — No. 2:20-mj-12360 (Dkt. 1, D.N.J.)

Summary

A criminal complaint filed September 2, 2020 as Document 1 in United States v. Jae H. Choi, Mag. No. 20-12360, in the U.S. District Court for the District of New Jersey, attested by IRS Criminal Investigation Special Agent Vincent Flynn before Magistrate Judge James B. Clark III. Counts One through Three charge bank fraud under Title 18, United States Code, Section 1344(2) over PPP applications for Smart Learning Inc., The Homeschool Buyers Club Inc. and Educloud Inc. seeking $3,077,300.00, $2,990,957.50 and $2,903,200. Count Four charges money laundering under Section 1957 for a transfer of approximately $291,000 to a title company on or about May 4, 2020. The affidavit alleges the applications used falsified Forms 940, bank records and employee lists, and that the proceeds went to a home in Cresskill, New Jersey and to stocks including Amazon, Tesla and Apple.

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