Indian National Charged in $8 Million COVID-19 Relief Scheme
In a brazen scheme to defraud the US government, Abhishek Krishnan, a 40-year-old Indian national, allegedly submitted multiple fraudulent Paycheck Protection Program (PPP) loan applications, netting him over $8.2 million in funds.
According to court documents, Krishnan resided in Wake County, North Carolina, before returning to his home country of India. From there, he allegedly submitted 17 PPP loan applications, claiming to be the owner of numerous businesses that did not exist.
The applications included false statements about employee numbers and payroll expenses, as well as falsified tax filings. Krishnan also allegedly used the name of another person without their authority, a crime known as aggravated identity theft.
As part of the scheme, Krishnan laundered the proceeds, using the funds to further his own interests. The full extent of his financial dealings remains unclear at this time.
Krishnan faces two counts of wire fraud, two counts of money laundering, and two counts of aggravated identity theft. If convicted, he could face up to 20 years in prison on each of the top counts, in addition to a mandatory minimum of two years in prison on each count of aggravated identity theft.
Assistant Attorney General Kenneth A. Polite, Jr., U.S. Attorney Philip R. Sellinger, and other agencies are leading the investigation, with Assistant Chief Justin Woodard and Trial Attorney Thomas D. Campbell prosecuting the case. Krishnan was recently charged in a separate case in the Eastern District of North Carolina with theft of government property and aggravated identity theft.
The COVID-19 Fraud Enforcement Task Force, established by the Attorney General on May 17, 2021, is working to combat pandemic-related fraud. Since its inception, the task force has prosecuted over 150 defendants in more than 95 criminal cases, seizing over $75 million in cash proceeds derived from fraudulently obtained PPP funds.
The TIGTA, FDIC-OIG, U.S. Marshals Service, and SBA-OIG are investigating the case. Krishnan is currently at large, and his whereabouts are unknown. An arrest warrant has been issued for his capture.
Defendant: Abhishek Krishnan
Criminal Charges: Two counts of wire fraud, two counts of money laundering, and two counts of aggravated identity theft
City and State: Newark, New Jersey
Date: Not specified
Sentence: Not specified
Dollar Amounts: $8.2 million in funds allegedly obtained, $3.3 million in loan proceeds received
Related Federal Cases
- Philip R. Selliniger, Healthcare Fraud, New Jersey 2024 · Alabama
- Porfirio Paredes, $65M Stolen Identity Income Tax Refund Fraud, New Jersey 2023 · Puerto Rico
- Ircania Vargas, Healthcare Fraud, New Jersey 2019 · North Carolina
- Michael Lieberman, Wire Fraud, New Jersey 2015 · New York
- John W. Barry, Jr., Tax Fraud Scheme, New Jersey 2020 · New York
Key Facts
- State: New Jersey
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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