L. A. — A Santa Clarita man pleaded responsible Tuesday to a federal fraudulence cost for getting $655,000 in income shelter regimen financing by publishing phony income tax papers and employee ideas.
Raymond Magana, 39, pleaded accountable, via Zoom, to just one number of fraudulence regarding the major catastrophe or emergency advantages, in accordance with the U.S. attorneys’s company.
U.S. District Judge Stanley Blumenfeld Jr. arranged a might 11 sentencing hearing in la federal judge.
Magana admitted to utilizing fraudulence to get $655,000 in PPP financing.
Last month, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded guilty to the exact same charge. Blumenfeld scheduled a March 30 sentencing hearing for Goldstein.
Prosecutors say the defendants sent applications for over five individual PPP business loans totaling significantly more than $2.5 million from different banking companies.
The PPP loan program premiered at the outset of the COVID-19 pandemic and was made permitting business owners to help keep staff members to their payroll.
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