LA — A Santa Clarita man pleaded guilty Tuesday to a national fraudulence charge for obtaining $655,000 in Paycheck safeguards Program loans by posting fake taxation papers and staff info.
Raymond Magana, 39, pleaded bad, via Zoom, to a single amount of fraudulence associated with major disaster or emergency pros, according to research by the U.S. attorneys’s Office.
U.S. section assess Stanley Blumenfeld Jr. set a might 11 sentencing hearing in l . a . national courtroom.
Magana admitted to making use of fraud to get $655,000 in PPP debts.
Final thirty days, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded bad towards the same charge. Blumenfeld arranged a March 30 sentencing hearing for Goldstein.
Prosecutors say the defendants applied for a lot more than five individual PPP loans totaling a lot more than $2.5 million from various finance companies.
The PPP loan program was launched at the beginning of the COVID-19 pandemic and was created to allow business owners maintain staff on their payroll.
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