NC man charged in scheme to get $6 million in COVID-19 funds meant for small businesses
A Garner man faces federal fraud charges after he applied for $6.1 million from the Paycheck Protection Program that is intended for businesses affected by the coronavirus pandemic, according to a news release.
Tristan Bishop Pan, 38, received more than $1.7 million he applied for by submitting 14 fraudulent PPP loan applications under businesses named Pan Insurance Agency, White Walker, Khaleesi and The Night’s Watch.
The last three are references for “Game of Thrones,” the wildly popular series that aired on HBO.
The U.S. Justice Department’s Eastern District of North Carolina announced the charges Tuesday.
The applications included fake documents, such as falsified tax filings, according to the news release. Pan also made “false statements” about employee and payroll expenses, the news release said.
He received some of the funds he applied for after the Pan Insurance Agency and White Walker PPP loan applications were approved.
The PPP loans, with low interest rates, are meant as a stimulus for small businesses struggling in the COVID-19 pandemic. The program was legislated in the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act.
The federal government was able to recover some of the loan benefits that Pan received, according to the press release.