USA v. Martinez
Case Number:
1:22-cr-00251
Court:
Nature of Suit:
Judge:
Firms
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July 27, 2023
4½ Years For Financier Who Lied To Become Virus-Era Lender
A Manhattan federal judge sentenced a financier to 4½ years in prison Thursday for lying to obtain $932 million of COVID-19 emergency loan capital from the government and from an insurer controlled by Magic Johnson, in a lending fraud that earned him over $71 million in fees.
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July 06, 2023
Feds Want 5 Years For Lender Who Duped Magic Johnson Co.
New York federal prosecutors are seeking a five-year prison sentence for a man who pled guilty to lying on applications to become a nonbank lender for the Paycheck Protection Program and fraudulently obtaining $100 million from a Magic Johnson-controlled insurance company.
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March 23, 2023
Lender Cops To $932M Fraud That Duped Magic Johnson Co.
The CEO of a financial management company pled guilty Thursday to using misrepresentations to become a lender in the COVID-19-era Paycheck Protection Program, fraudulently obtaining $100 million from a Magic Johnson-controlled insurance company and using it to borrow $832 million more from the government.
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February 17, 2023
Lender Must Face All Charges At $932M COVID Fraud Trial
A New York federal judge on Friday declined to narrow the prosecution of the CEO of MBE Capital Partners, who is accused of conning his way into obtaining $932 million in capital from Magic Johnson's life insurance company and the Federal Reserve to fund Paycheck Protection Program loans, leaving the case intact for a May trial.