Complaint — No. 2:22-cr-00077 (Dkt. 1, C.D. Cal.)

Summary

A criminal complaint against Reddy Budamala, Case No. 2:22-mj-00758-duty, in the U.S. District Court for the Central District of California, filed February 24, 2022 as Document 1 in No. 2:22-cr-00077-ODW, charging wire fraud under 18 U.S.C. § 1343 on or about April 30, 2020. The affidavit of IRS-CI Special Agent Drew Cienfuegos states that the defendant submitted seven PPP and EIDL loan applications for Hayventure LLC, Pioneer LLC and XC International LLC, described as shell companies with no business operations, and that the IRS has no records for those companies. It describes a Hayventure PPP loan from Celtic Bank of $236,597 and forgiveness payroll summaries listing 13 employees. The affidavit states the proceeds funded a $1.247 million investment property, a $597,585 property in Malibu and a $970,000 investment in an EB-5 fund.

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