L. A. — A Santa Clarita man pleaded responsible Tuesday to a federal fraud charge for acquiring $655,000 in salary security plan financing by posting fake tax documentation and staff member records.
Raymond Magana, 39, pleaded bad, via Zoom, to a single count of fraudulence relating to biggest disaster or disaster advantages, in accordance with the U.S. attorneys’s Office.
U.S. District assess Stanley Blumenfeld Jr. set a will 11 sentencing hearing in Los Angeles national court.
Magana acknowledge to utilizing scam to acquire $655,000 in PPP loans.
Latest period, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded responsible on same cost. Blumenfeld booked a March 30 sentencing hearing for Goldstein.
Prosecutors state the defendants applied for a lot more than five different PPP business loans totaling over $2.5 million from numerous banks.
The PPP loan program premiered at the beginning of the COVID-19 pandemic and was designed permitting companies to keep people on the payroll.
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