Santa Clarita man pleads responsible to fraudulence in $655,000 COVID-19 financial help scheme
L. A. — A Santa Clarita man pleaded bad Tuesday to a federal scam charge for acquiring $655,000 in income coverage Program debts by distributing phony tax files and employee info.
Raymond Magana, 39, pleaded guilty, via Zoom, to just one matter of fraud in connection with big catastrophe or crisis importance, according to research by the U.S. lawyer’s Office.
U.S. region Judge Stanley Blumenfeld Jr. arranged a might 11 sentencing hearing in L. A. national judge.
Magana admitted to making use of fraud to have $655,000 in PPP financing.
Last thirty days, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded bad into the same charge. Blumenfeld arranged a March 30 sentencing hearing for Goldstein.
Prosecutors say the defendants applied for significantly more than five separate PPP loans totaling over $2.5 million from different banking companies.
The PPP financing plan was released at the beginning of the COVID-19 
pandemic and was designed to permit entrepreneurs to keep workers on their payroll.
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