LOS ANGELES — A Santa Clarita guy pleaded responsible Tuesday to a national fraud cost for obtaining $655,000 in income shelter regimen loans by distributing phony taxation documents and staff member ideas.
Raymond Magana, 39, pleaded responsible, via Zoom, to one number of fraudulence relating to major catastrophe or emergency positive, according to research by the U.S. Attorney’s company.
U.S. District Judge Stanley Blumenfeld Jr. put a will 11 sentencing hearing in L. A. federal judge.
Magana accepted to using fraud to get $655,000 in PPP financial loans.
Final period, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded bad on the same charge. Blumenfeld arranged a March 30 sentencing hearing for Goldstein.
Prosecutors say the defendants sent applications for over five individual PPP loans totaling more than $2.5 million from numerous banking institutions.
The PPP mortgage regimen premiered at the outset of the COVID-19 pandemic and was created permitting entrepreneurs to keep staff members to their payroll.
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