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

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

LA — A Santa Clarita people pleaded bad Tuesday to a national fraud cost for obtaining $655,000 in income Safety plan financing by submitting fake tax records and worker details.

Raymond Magana, 39, pleaded accountable, via Zoom, to just one count of fraud relating to biggest catastrophe or emergency benefits, according to the U.S. attorneys’s Office.

U.S. region Judge Stanley Blumenfeld Jr. arranged a May 11 sentencing hearing in Los Angeles national court.

Magana acknowledge to utilizing fraud to get $655,000 in PPP financial loans.

Final period, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded responsible for the exact same charge. Blumenfeld booked a March 30 sentencing hearing for Goldstein.

Prosecutors say the defendants applied for significantly more than five individual PPP business loans totaling more than $2.5 million from numerous banking companies.

The PPP loan system was launched at the beginning of the COVID-19 pandemic and was designed allowing companies maintain professionals to their payroll.

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