United States v. Kevin Feng Gao, Southern District of New York (Feb. 13, 2025)

UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 

UNITED STATES OF AMERICA 

V. 

KEVIN FENG GAO, 

Defendant. 

The Grand Jury charges: 

SEALED INDICTMENT 

25 Cr. 

COUNT ONE 
(Bank Fraud) 

Overview of the Scheme 

053 

1. From at least in or about February 2017 through at least in or about October 2017, 

KEVIN FENG GAO, the defendant, and others known and unknown, engaged in a scheme to 

defraud an FDIC insured bank ("Bank-1") into opening an unauthorized bank account (the 

"Unauthorized Account") in the name of a company ("Company-I") that managed a residential 

development project in Manhattan ("Development-I"). Company-I did not authorize GAO to 

open or use the Unauthorized Account. After causing the Unauthorized Account to be opened at 

Bank-I based on false statements and representations, GAO used the Unauthorized Account to 

steal at least $30 million. In particular, an investment company ("Investment Company-I") 

transferred $30 million into the Unauthorized Account pursuant to an agreement to fund an 

investment in Development- I . Rather than those funds being invested in Development- I , as 

Investment Company-I understood would occur, GAO, using the Unauthorized Account, caused 

the $30 million from Investment Company-I to be transferred to other bank accounts, including 

certain accounts under GAO's control. 



Background on Development-I 

2. Development-I is a luxury real estate development project located in the vicinity 

of midtown Manhattan, New York. Among other things, Development-I includes a large 

building that houses condominium residences. 

3. At all times relevant to this Indictment, Development-I was managed and 

developed as a joint venture between a real estate company based in Connecticut ("Company-2") 

and a real estate company affiliated with the government of Shanghai, China ("Company-3"). 

KEVIN FENG GAO, the defendant, was and is an executive of Company-3. 

4. Company-2 and Company-3 owned and operated Development-I through several 

corporate entities, including Company-I, which was an entity owned in part by Company-2 and 

Company-3. At all times relevant to this Indictment, Company-2 acted as the managing member 

of Company-I. 

The Bank Fraud Scheme 

5. In or about February 2017, KEVIN FENG GAO, the defendant, and others known 

and unknown, acting without the authorization of Company-I, applied to open the Unauthorized 

Account at a Manhattan branch of Bank-I. In doing so, GAO made false statements and 

representations to representatives of Bank-I, including falsely representing that GAO was 

opening the Unauthorized Account with Company-1 's permission. Additionally, when a 

representative of Bank-I asked GAO to provide Bank-I with a copy of Company-1 's operating 

agreement, GAO provided Bank-I with a fraudulent document purporting to be said operating 

agreement when, in truth and in fact, it was not. Subsequently, Bank-1 opened the Unauthorized 

Account in Company-1 's name. 

6. In or about June 2017, Investment Company- I executed an agreement 

2 



("Agreement-1 ") to provide $30 million to finance a purported investment in Development-I. 

Another executive ("Executive-1 ") at Company-3 signed Agreement-I on behalf of Company-3 

and KEVIN FENG GAO, the defendant, notarized Executive-1 's signature on Agreement-I. 

7. On or about June 15, 2017, Investment Company-I transferred $30 million 

pursuant to Agreement-I to the Unauthorized Account secretly controlled by KEVIN FENG 

GAO, the defendant. After Investment Company-I sent its approximately $30 million to the 

Unauthorized Account, between at least in or about June 2017 and in or about October 2017, 

GAO, and others known and unknown, caused Investment Company-1 's approximately $30 

million to be transferred to bank accounts under the control of GAO and his co-conspirators. 

Through such transfers and the initial creation of the Unauthorized Account based on 

misrepresentations, GAO and his co-conspirators stole the approximately $30 million that 

Investment Company-I intended to invest in Development-I. 

Statutory Allegations 

8. From at least in or about February 2017 through at least in or about October 2017, 

in the Southern District of New York and elsewhere, KEVIN FENG GAO, the defendant, 

knowingly executed, and attempted to execute, a scheme and artifice to defraud a financial 

institution, as that term is defined in Title 18, United States Code, Section 20, and to obtain 

moneys, funds, credits, assets, securities, and other property owned by, and under the custody 

and control of, such a financial institution, by means of false and fraudulent pretenses, 

representations, and promises, to wit, GAO made, and caused to be made, false statements to 

Bank-I , an FDIC-insured bank, regarding the Unauthorized Account in order to cause funds to 

be fraudulently transferred into the custody of Bank- I and to transfer funds in the custody of 

Bank-1. 

3 



(Title 18, United States Code, Section 1344.) 

FORFEITURE ALLEGATION 

9. As a result of committing the offense alleged in Count One of this Indictment, 

KEVIN FENG GAO, the defendant, shall forfeit to the United States, pursuant to Title 18, , 

United States Code, Section 982(a)(2)(A), any and all property constituting, or derived from, 

proceeds the defendant obtained directly or indirectly, as a result of the commission of said 

offense, including but not limited to a sum of money in United States currency representing the 

amount of proceeds traceable to the commission of said offense. 

Substitute Assets Provision 

10. If any of the above-described forfeitable property, as a result of any act or 

omission of the defendant: 

a. cannot be located upon the exercise of due diligence; 

b. has been transferred or sold to, or deposited with, a third person; 

c. has been placed beyond the jurisdiction of the Court; 

d. has been substantially diminished in value; or 

e. has been commingled with other property which cannot be subdivided 

without difficulty; 

it is the intent of the United States, pursuant to Title 21 , United States Code, Section 853(p) and 

4 



Title 28, United States Code, Section 2461 ( c ), to seek forfeiture of any other property of the 

defendants up to the value of the above forfeitable property. 

FOREERSON 

(Title 18, United States Code, Sections 981, 982; 
Title 21, United States Code, Section 853; and 
Title 28, United States Code, Section 2461.) 

5 

~le-~~ 
DANIELLE R. SASSOON 
United States Attorney 



AUSA ame & Telno: Christopher Brumwell 212-637-2477 

UNITED STATES DISTRICT COURT 
for the . 

Southern District of New York ,. 

United States of America 
V. 

Kevin Feng Gao, 

Defendant 

To: Any authorized law enforcement officer 

) 
) 
) 
) 
) 
) 

ARREST WARRANT 

YOU ARE COMMANDED to arrest and bring before a United States magistrate judge without unnecessary delay 

(name of person to be arrested) Kevin Feng Gao 
-------""--------------------------------

who is accused of an offense or violation based on the following document filed with the court: 

~ Indictment 0 Superseding Indictment 0 Information 0 Superseding Information O Complaint 

0 Probation Violation Petition 0 Supervised Release Violation Petition □ Violation Notice O Order of the Cowi 

This offense is briefly described as follows: 

Bank fraud, in violation of 18 U.S.C. Section 1344 

Date: 02/11/2025 --------
Issuing officer's signature 

City and state : New York, NY Tammi M. Hellwig 
Printed name and title 

Return 

This warrant was received on (date) 

at (city and state) 
------- , and the person was arrested on (date) 

Date: 
Arresting officer 's signature 

Printed name and title

UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 

UNITED STATES OF AMERICA 

V. 

KEVIN FENG GAO, 

Defendant. 

The Grand Jury charges: 

SEALED INDICTMENT 

25 Cr. 

COUNT ONE 
(Bank Fraud) 

Overview of the Scheme 

053 

1. From at least in or about February 2017 through at least in or about October 2017, 

KEVIN FENG GAO, the defendant, and others known and unknown, engaged in a scheme to 

defraud an FDIC insured bank ("Bank-1") into opening an unauthorized bank account (the 

"Unauthorized Account") in the name of a company ("Company-I") that managed a residential 

development project in Manhattan ("Development-I"). Company-I did not authorize GAO to 

open or use the Unauthorized Account. After causing the Unauthorized Account to be opened at 

Bank-I based on false statements and representations, GAO used the Unauthorized Account to 

steal at least $30 million. In particular, an investment company ("Investment Company-I") 

transferred $30 million into the Unauthorized Account pursuant to an agreement to fund an 

investment in Development- I . Rather than those funds being invested in Development- I , as 

Investment Company-I understood would occur, GAO, using the Unauthorized Account, caused 

the $30 million from Investment Company-I to be transferred to other bank accounts, including 

certain accounts under GAO's control. 



Background on Development-I 

2. Development-I is a luxury real estate development project located in the vicinity 

of midtown Manhattan, New York. Among other things, Development-I includes a large 

building that houses condominium residences. 

3. At all times relevant to this Indictment, Development-I was managed and 

developed as a joint venture between a real estate company based in Connecticut ("Company-2") 

and a real estate company affiliated with the government of Shanghai, China ("Company-3"). 

KEVIN FENG GAO, the defendant, was and is an executive of Company-3. 

4. Company-2 and Company-3 owned and operated Development-I through several 

corporate entities, including Company-I, which was an entity owned in part by Company-2 and 

Company-3. At all times relevant to this Indictment, Company-2 acted as the managing member 

of Company-I. 

The Bank Fraud Scheme 

5. In or about February 2017, KEVIN FENG GAO, the defendant, and others known 

and unknown, acting without the authorization of Company-I, applied to open the Unauthorized 

Account at a Manhattan branch of Bank-I. In doing so, GAO made false statements and 

representations to representatives of Bank-I, including falsely representing that GAO was 

opening the Unauthorized Account with Company-1 's permission. Additionally, when a 

representative of Bank-I asked GAO to provide Bank-I with a copy of Company-1 's operating 

agreement, GAO provided Bank-I with a fraudulent document purporting to be said operating 

agreement when, in truth and in fact, it was not. Subsequently, Bank-1 opened the Unauthorized 

Account in Company-1 's name. 

6. In or about June 2017, Investment Company- I executed an agreement 

2 



("Agreement-1 ") to provide $30 million to finance a purported investment in Development-I. 

Another executive ("Executive-1 ") at Company-3 signed Agreement-I on behalf of Company-3 

and KEVIN FENG GAO, the defendant, notarized Executive-1 's signature on Agreement-I. 

7. On or about June 15, 2017, Investment Company-I transferred $30 million 

pursuant to Agreement-I to the Unauthorized Account secretly controlled by KEVIN FENG 

GAO, the defendant. After Investment Company-I sent its approximately $30 million to the 

Unauthorized Account, between at least in or about June 2017 and in or about October 2017, 

GAO, and others known and unknown, caused Investment Company-1 's approximately $30 

million to be transferred to bank accounts under the control of GAO and his co-conspirators. 

Through such transfers and the initial creation of the Unauthorized Account based on 

misrepresentations, GAO and his co-conspirators stole the approximately $30 million that 

Investment Company-I intended to invest in Development-I. 

Statutory Allegations 

8. From at least in or about February 2017 through at least in or about October 2017, 

in the Southern District of New York and elsewhere, KEVIN FENG GAO, the defendant, 

knowingly executed, and attempted to execute, a scheme and artifice to defraud a financial 

institution, as that term is defined in Title 18, United States Code, Section 20, and to obtain 

moneys, funds, credits, assets, securities, and other property owned by, and under the custody 

and control of, such a financial institution, by means of false and fraudulent pretenses, 

representations, and promises, to wit, GAO made, and caused to be made, false statements to 

Bank-I , an FDIC-insured bank, regarding the Unauthorized Account in order to cause funds to 

be fraudulently transferred into the custody of Bank- I and to transfer funds in the custody of 

Bank-1. 

3 



(Title 18, United States Code, Section 1344.) 

FORFEITURE ALLEGATION 

9. As a result of committing the offense alleged in Count One of this Indictment, 

KEVIN FENG GAO, the defendant, shall forfeit to the United States, pursuant to Title 18, , 

United States Code, Section 982(a)(2)(A), any and all property constituting, or derived from, 

proceeds the defendant obtained directly or indirectly, as a result of the commission of said 

offense, including but not limited to a sum of money in United States currency representing the 

amount of proceeds traceable to the commission of said offense. 

Substitute Assets Provision 

10. If any of the above-described forfeitable property, as a result of any act or 

omission of the defendant: 

a. cannot be located upon the exercise of due diligence; 

b. has been transferred or sold to, or deposited with, a third person; 

c. has been placed beyond the jurisdiction of the Court; 

d. has been substantially diminished in value; or 

e. has been commingled with other property which cannot be subdivided 

without difficulty; 

it is the intent of the United States, pursuant to Title 21 , United States Code, Section 853(p) and 

4 



Title 28, United States Code, Section 2461 ( c ), to seek forfeiture of any other property of the 

defendants up to the value of the above forfeitable property. 

FOREERSON 

(Title 18, United States Code, Sections 981, 982; 
Title 21, United States Code, Section 853; and 
Title 28, United States Code, Section 2461.) 

5 

~le-~~ 
DANIELLE R. SASSOON 
United States Attorney 



AUSA ame & Telno: Christopher Brumwell 212-637-2477 

UNITED STATES DISTRICT COURT 
for the . 

Southern District of New York ,. 

United States of America 
V. 

Kevin Feng Gao, 

Defendant 

To: Any authorized law enforcement officer 

) 
) 
) 
) 
) 
) 

ARREST WARRANT 

YOU ARE COMMANDED to arrest and bring before a United States magistrate judge without unnecessary delay 

(name of person to be arrested) Kevin Feng Gao 
-------""--------------------------------

who is accused of an offense or violation based on the following document filed with the court: 

~ Indictment 0 Superseding Indictment 0 Information 0 Superseding Information O Complaint 

0 Probation Violation Petition 0 Supervised Release Violation Petition □ Violation Notice O Order of the Cowi 

This offense is briefly described as follows: 

Bank fraud, in violation of 18 U.S.C. Section 1344 

Date: 02/11/2025 --------
Issuing officer's signature 

City and state : New York, NY Tammi M. Hellwig 
Printed name and title 

Return 

This warrant was received on (date) 

at (city and state) 
------- , and the person was arrested on (date) 

Date: 
Arresting officer 's signature 

Printed name and title