{"id":49132,"date":"2022-03-10T23:00:43","date_gmt":"2022-03-11T07:00:43","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=49132"},"modified":"2022-03-10T23:03:54","modified_gmt":"2022-03-11T07:03:54","slug":"hollywood-executive-guilty-of-fraud-and-money-laundering-for-stealing-covid-relief-mondy","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=49132","title":{"rendered":"Hollywood Executive Guilty of Fraud and Money Laundering for Stealing COVID Relief Mondy"},"content":{"rendered":"<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong>LOS ANGELES\u00a0<\/strong><\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">The former chief executive of Aviron Pictures has agreed to plead guilty to federal fraud and money laundering charges, admitting that he applied for and received $1.7 million in loans under the Paycheck Protection Program (PPP), officials stated.<\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">William Sadleir, 67, of Beverly Hills, agreed to plead guilty to one count of bank fraud and one count of money laundering. <\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/m0_n_a-TVC4\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><br \/>\n<span style=\"font-size: 20px;\">Sadleir filed bank loan applications that fraudulently sought more than $1.7 million dollars in forgivable PPP loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. <\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">According to court documents, Sadleir obtained the loans for three Aviron entities by falsely representing that the funds would be used to support payroll expenses for 33 employees at each company, when in fact the entities were no longer operational.<\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Within days of the loans being funded on May 1, 2020, Sandleir transferred nearly $1 million to his personal checking account.<\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">Sandleir \u201cexpended a substantial amount of the fraudulent loan proceeds on utility bills, mortgage expenses, and his personal attorney, among other things,\u201d he admitted in his plea agreement. Sandleir \u201cdid not use any of the fraudulent loan proceeds to pay employees of the Aviron companies.\u201d<\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">Following the discovery of the fraudulent loan applications, federal agents seized $308,058 of fraudulent loan proceeds from an Aviron account, and Sandleir returned $1,122,090 to the bank that funded the loans. <\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">As a result of the fraudulent PPP loan scheme, the SBA suffered losses of $282,566. In his plea agreement, Sandleir agreed to pay full restitution.<\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Once he pleads guilty to the two offenses, Sandleir is facing up to 50 years in federal prison. <\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">Sandleir is scheduled to be sentenced in the New York case on May 10 after he <a href=\"https:\/\/www.justice.gov\/usao-sdny\/pr\/hollywood-executive-pleads-guilty-defrauding-new-york-investment-fund-over-30-million\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">pleaded guilty in January to wire fraud<\/a>\u00a0for misappropriating more than $25 million that had been invested in Aviron.<\/span><\/p>\n<p class=\"yiv1798767541MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">The Los Angeles case was investigated by the FBI, the SBA\u2019s Office of Inspector General, and the Federal Deposit Insurance Corporation\u2019s Office of Inspector General.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES\u00a0 The former chief executive of Aviron Pictures has agreed to plead guilty to federal fraud and money laundering charges, admitting that he applied for and received $1.7 million in loans&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-49132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hollywood Executive Guilty of Fraud and Money Laundering for Stealing COVID Relief Mondy<\/title>\n<meta name=\"description\" content=\"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES\u00a0 The former chief executive of Aviron Pictures has agreed to plead guilty to federal fraud and money laundering charges, admitting\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cjnotebook.com\/?p=49132\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hollywood Executive Guilty of Fraud and Money Laundering for Stealing COVID Relief Mondy\" \/>\n<meta property=\"og:description\" content=\"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES\u00a0 The former chief executive of Aviron Pictures has agreed to plead guilty to federal fraud and 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