Indictment — No. 1:25-cr-00213 (Dkt. 1, N.D. Ill.)

Summary

An indictment returned by the Special November 2023 Grand Jury in United States of America v. William Frederick Reed, Case 1:25-cr-00213, in the U.S. District Court for the Northern District of Illinois, filed April 21, 2025 as Document 1. The caption cites Title 15, United States Code, Section 645(a), Title 18 Sections 152(3) and 152(8), and Title 26 Sections 7203 and 7206(1). Counts One through Three allege false statements in PPP loan applications to Kabbage, Inc., ReadyCap Lending LLC and Cross River Bank for $5,862, $5,800 and $5,862, each supported by a 2019 Schedule C reporting gross receipts of $29,456. The indictment states that the 2019 Schedule C Reed filed with the IRS reported gross receipts of $1,304. Count Four alleges a false 2021 tax return, Count Five a bankruptcy fraud scheme, and Count Nine a failure to file a 2023 return.

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