SEATTLE — A suburban Seattle software engineer submitted false loan applications seeking over $1.5 million meant for businesses financially impacted by the coronavirus pandemic, according to federal court documents.
Baoke Zhang, 35, was charged with wire fraud and bank fraud, according to a complaint filed in the Western District of Washington that was unsealed Friday. He was arrested Friday, The Seattle Times reported.
Zhang allegedly submitted loan applications to lenders and financial institutions in April for funds guaranteed by the Small Business Association through the Paycheck Protection Program. The program provides forgivable loans to small businesses to use for payroll and expenses.
According to court documents, he created fake information technology companies for his applications.
Zhang never received funding, according to court documents.
