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

L. A. — A Santa Clarita people pleaded accountable Tuesday to a federal fraud cost for acquiring $655,000 in Paycheck defense system financing by submitting phony taxation papers and employee details.

Raymond Magana, 39, pleaded guilty, via Zoom, to one number of fraud in connection with significant problem or crisis pros, according to the U.S. Attorney’s workplace.

U.S. District Judge Stanley Blumenfeld Jr. set a May 11 sentencing hearing in l . a . national court.

Magana admitted to utilizing scam to obtain $655,000 in PPP financial loans.

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

Prosecutors say the defendants sent applications for significantly more than five different PPP loans totaling a lot more than $2.5 million from numerous finance companies.

The PPP loan regimen premiered at the outset of the COVID-19 pandemic and was created to permit company owners to help keep staff to their payroll.

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