Santa Clarita people pleads accountable to fraudulence in $655,000 COVID-19 financial assistance program

Santa Clarita people pleads accountable to fraudulence in $655,000 COVID-19 financial assistance program

L. A. — A Santa Clarita man pleaded guilty Tuesday to a national fraudulence charge for getting $655,000 in Paycheck Protection Program loans by posting fake tax documents and employee facts.

Raymond Magana, 39, pleaded guilty, via Zoom, to just one matter of fraud regarding the significant catastrophe or emergency advantages, in accordance with the U.S. Attorney’s company.

U.S. area Judge Stanley Blumenfeld Jr. set a May 11 sentencing hearing in Los Angeles national court.

Magana admitted to using scam to acquire $655,000 in PPP financing.

Finally period, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded accountable on the exact same charge. Blumenfeld South Dakota pawn shop laws booked a March 30 sentencing hearing for Goldstein.

Prosecutors say the defendants sent applications for over five split PPP business loans totaling a lot more than $2.5 million from numerous banking companies.

The PPP mortgage regimen premiered at the outset of the COVID-19 pandemic and was created to permit business people keeping professionals on their payroll.

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