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By City News Service
Jan 26, 2021
LOS ANGELES (CNS) - A Santa Clarita man is expected to plead guilty this morning to a federal fraud charge for obtaining $655,000 in Paycheck Protection Program loans by submitting phony tax documents and employee information.
Raymond Magana, 39, has agreed to enter a guilty plea via Zoom to a single federal count of fraud in connection with major disaster or emergency benefits, according to the U.S. Attorney s Office.
Magana admits to fraudulently obtaining $655,000 in PPP loans, according to his plea agreement.
Last month, co-defendant Steven R. Goldstein, 36, of Northridge, pleaded guilty to the same charge. U.S. District Judge Stanley Blumenfeld Jr. scheduled a March 30 sentencing hearing for Goldstein, who faces up to 30 years in federal prison.