Indictment — No. 3:23-cr-00252 (Dkt. 1, N.D. Tex.)

Summary

A sealed indictment against Mihir Patel, Kinjal Patel, Prateek Desai, Wajahat Khan, Imran Khan, Chirag Gandhi, Bhavesh Patel, Dharmesh Patel, Mitra Bhattarai and Bhargav Bhatt, Case No. 3:23-cr-00252-K, in the U.S. District Court for the Northern District of Texas, filed June 21, 2023 as Document 1. The indictment alleges that the defendants submitted loan applications to financial institutions seeking over $53 million in the aggregate, including PPP loans for purported metal recycling companies and individuals with inflated payroll, false IRS documents and altered bank statements. It lists at least 24 false and fraudulent PPP applications. The 16 Counts include conspiracy to commit bank fraud under 18 U.S.C. § 1349, bank fraud, conspiracy to commit money laundering under 18 U.S.C. § 1956(h), and a false statement to the FDIC under 18 U.S.C. § 1007.

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