Real Estate Executive Charged in $30 Million Bank Fraud Scheme

The defendant was an executive of a China-based real estate company that prosecutors said was affiliated with Shanghai’s municipal government.

The Department of Justice in Washington on Jan. 9, 2025. Madalina Vasiliu/The Epoch Times

A real estate executive in New York has been indicted for allegedly committing bank fraud in a scheme to steal millions from a real estate investment in Manhattan.

Kevin Feng Gao, 37, of Queens, New York, now faces up to 30 years in prison after being charged with one count of bank fraud, the U.S. Attorney’s Office for the Southern District of New York said in a statement on Feb. 13. Prosecutors said Gao’s scheme ran from February 2017 to October 2017.