Lender Cops To $932M Fraud That Duped Magic Johnson Co.

By Elliot Weld ( March 23, 2023, 7:53 PM EDT) -- 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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