Santa Clarita man pleads accountable to fraud in $655,000 COVID-19 financial assistance strategy

Santa Clarita man pleads accountable to fraud in $655,000 COVID-19 financial assistance strategy

L. A. — A Santa Clarita man pleaded guilty Tuesday to a federal fraud charge for obtaining $655,000 in income safeguards regimen financing by distributing fake taxation files and employee details.

Raymond Magana, 39, pleaded responsible, via Zoom, to an individual matter of scam relating to significant catastrophe or emergency advantages, according to research by the U.S. lawyer’s company.

U.S. area assess Stanley Blumenfeld Jr. ready a will 11 sentencing hearing in la national judge.

Magana admitted to making use of fraudulence to acquire $655,000 in PPP debts.

Finally period, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded accountable towards same cost. Blumenfeld scheduled a March 30 sentencing hearing for Goldstein.

Prosecutors state the defendants requested above five separate PPP loans totaling above $2.5 million from numerous finance companies.

The PPP mortgage regimen was launched at the start of the COVID-19 pandemic and was created permitting business owners to help keep workers on their payroll.

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