Santa Clarita man pleads guilty to fraudulence in $655,000 COVID-19 financial help plan

L. A. — A Santa Clarita man pleaded guilty Tuesday to a national scam fee for acquiring $655,000 in income shelter regimen debts by distributing fake taxation papers and staff member info.

Raymond Magana, 39, pleaded guilty, via Zoom, to just one number of fraud in connection with big tragedy or disaster pros, according to the U.S. lawyer’s company.

U.S. section assess Stanley Blumenfeld Jr. put a might 11 sentencing hearing in Los Angeles federal judge.

Magana accepted to making use of fraudulence to acquire $655,000 in PPP financial loans.

Finally thirty days, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded accountable toward exact same charge. Blumenfeld planned a March 30 sentencing hearing for Goldstein.

Prosecutors state the defendants sent applications for more than five separate PPP business loans totaling a lot more than $2.5 million from numerous financial institutions.

The PPP financing system was released at the outset of the COVID-19 pandemic and was made to permit entrepreneurs to help keep workers on the payroll.

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