Indictment — No. 5:20-cr-00436 (Dkt. 1, E.D.N.C.)

Summary

A grand jury Criminal Indictment in United States v. Tristan Bishop Pan, Case 5:20-cr-00436-BO, in the United States District Court for the Eastern District of North Carolina, filed September 23, 2020. It alleges a scheme to defraud the SBA and lenders through falsified PPP applications submitted to financial technology companies identified as Company 1 and Company 2. It alleges that the Pan Insurance Agency application claimed 37 employees and average monthly payroll of approximately $272,251, supported by a purported IRS Form W-3 reporting approximately $912,815.67 in wages, and that Bank 1 disbursed approximately $680,627. It alleges that a White Walker application was supported by a purported IRS Form 940 dated before the company had an EIN. The forfeiture notice cites gross proceeds of up to at least $1,745,427.00.

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