Pan submitted fraudulent PPP applications for 14 companies throughout 2020, including for companies called Khaleesi LLC, Night's Watch LLC and White Walker LLC, the indictment alleges.
To support the applications, the indictment says Pan made untrue statement about the companies' employees and expenses -- complete with fake documents and falsified tax filings.
The final amount Pan sought was just over $6.1 million, and he received more than $1.7 million in benefits, according to the indictment.
Pan did not respond to CNN's request for comment, and CNN could not determine whether he has legal representation at this time.
PPP loans are meant for small business and other organizations for payroll costs, mortgages, rent and utilities. They were part of the CARES act, enacted March 29, which aimed to provide emergency financial assistance to Americans during the Covid-19 pandemic.
Seventy-six perfect of certified fraud examiners expect a rise in loan fraud over the next year, according to an ACFE survey.