An Oakland woman has been sentenced to three years in prison and must pay more than $1.1 million in restitution after pleading guilty to fraudulently obtaining that much in federal COVID-19 relief.
For more, stream KCBS Radio now.
Christina Burden, 32, was sentenced Thursday in Oakland after reaching a plea agreement with federal prosecutors, the U.S. Attorney's Office for the Northern District of California announced in a release. She pleaded guilty to two counts of bank fraud and two counts of money laundering.
Burden admitted in her plea deal that she tried obtain more than $4.5 million in loans through the Paycheck Protection Program and Economic Injury Disaster Loan Program for multiple fake companies she registered with the state. She falsified tax documents, claiming she had a monthly payroll of $700,000 for 89 employees in her businesses.
After obtaining $992,991 in PPP loans and $150,900 in EDIL loans in advances, prosecutors said Burden spent $488,000 on a "buying spree of high-end luxury items and services." Burden's purchases included $184,000 on private airfare and other travel expenses, $150,000 on cars and $124,000 on purchases from Louis Vuitton, Nieman Marcus and Nordstrom.
Burden was first charged with bank fraud on Feb. 3, 2021, and she was arrested in Oakland two days later.
Related
LISTEN to KCBS Radio
FAVORITE KCBS Radio
Facebook | Twitter | Instagram