Indictment — No. 2:22-cr-00077 (Dkt. 14, C.D. Cal.)

Summary

An Indictment filed March 8, 2022 as Document 14 in United States v. Raghavender Reddy Budamala, No. 2:22-cr-00077-ODW, in the U.S. District Court for the Central District of California. It alleges that the defendant, as manager of Hayventure LLC, Pioneer LLC and XC International LLC, described as shell companies with no substantial business operations or employees, made false representations on PPP loan applications to Celtic, Radius, Newtek and AEF. It lists PPP loan proceeds of $236,597 for Hayventure, $660,000 for the first Pioneer loan, $660,000 for the second Pioneer loan, $1,592,500 for the first XC International loan and $1,842,500 for the second XC International loan. It charges bank fraud under 18 U.S.C. § 1344(2), wire fraud under 18 U.S.C. § 1343 and transactional money laundering under 18 U.S.C. § 1957, with criminal forfeiture under 18 U.S.C. § 982.

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