LA — A Santa Clarita man pleaded responsible Tuesday to a national fraud fee for acquiring $655,000 in Paycheck safeguards system loans by submitting phony tax files and staff details.
Raymond Magana, 39, pleaded bad, via Zoom, to a single count of fraud relating to significant disaster or crisis benefits, in line with the U.S. lawyer’s company.
U.S. District assess Stanley Blumenfeld Jr. ready a will 11 sentencing hearing in L. A. federal court.
Magana acknowledge to making use of scam to get $655,000 in PPP financial loans.
Latest period, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded bad towards the same cost. Blumenfeld planned a March 30 sentencing hearing for Goldstein.
Prosecutors say the defendants requested significantly more than five separate PPP loans totaling over $2.5 million from various financial institutions.
The PPP mortgage plan premiered at the start of the COVID-19 pandemic and was created to permit business owners keeping staff members on the payroll.
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