GARNER, North Carolina – A North Carolina man has been accused of fraudulently applying for over $ 6 million in Paycheck Protection Program (P3) loans and receiving more than $ 1.7 million in payroll benefits for companies named after “Game of Thrones” characters, the US Department of Justice reported.
Tristan Bishop Pan, 38, of Garner, North Carolina, has been charged with wire fraud, bank fraud and participation in illegal money transactions.
The fraudulent companies Pan applied for loans for were “Pan Insurance Agency,” “White Walker,” “Khaleesi,” and “The Night’s Watch,” according to the DOJ.
The Night King is shown in a scene from HBO’s “Game of Thrones”. (Photo credit: HBO)
An indictment released on Tuesday alleged that Pan had submitted numerous fraudulent PPP loan applications for bogus companies to federally insured banks. According to the DOJ, Pan made false statements and provided falsified information regarding employees and company salary expenses.
Of the more than $ 6 million requested by Pan, he was able to secure a loan of $ 1.7 million in benefits for the PPP loan applications from the “Pan Insurance Agency” and “White Walker”.
The money Pan was seeking came from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a federal law enacted on March 29. Some of the law’s funds were intended to provide emergency financial assistance to millions of Americans who have been negatively affected by the economic effects of the COVID-19 pandemic.
In April, Congress authorized more than $ 300 billion in additional PPP funding to businesses affected by the ongoing pandemic.
In July, a Florida man was arrested for allegedly using small business aid money from the coronavirus to purchase a Lamborghini sports car for himself.
A report of the Office of the Inspector General of the Small Business Administration of the United States published detailed complaints in late July regarding thousands of cases of suspected fraud by financial institutions apparently receiving economic aid from the Supplementary Appropriations for Preparedness Act. and the coronavirus response and paycheck protection and healthcare improvement program. Act.
The report, titled “Serious Concerns of Potential Fraud in the Economic Injury Disaster Loan Program Regarding the Response to COVID-19,” says the SBA Inspector General’s office has received complaints about more than 5,000 cases in which suspected fraudulent activity took advantage of funds distributed by aid programs.