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

LOS ANGELES — A Santa Clarita guy pleaded accountable Tuesday to a federal scam charge for getting $655,000 in Paycheck Safety plan financial loans by posting phony taxation files and employee information.

Raymond Magana, 39, pleaded guilty, via Zoom, to just one count of fraud relating to significant catastrophe or emergency benefits, based on the U.S. lawyer’s workplace.

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

Magana accepted to utilizing fraudulence to acquire $655,000 in PPP debts.

Last period, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded responsible on same cost. Blumenfeld scheduled a March 30 sentencing hearing for Goldstein.

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

The PPP financing program was launched at the start of the COVID-19 pandemic and was made to allow company owners to help keep employees on the payroll.

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