Federal officials allege the Aviron Pictures founder used the money for personal expenses, including credit card payments.
Highlights
- William Sadleir, 67, of Beverly Hills, will enter his plea next week.
- Federal officials allege he fraudulently claimed $1.7 million in Paycheck Protection Program loans.
- Instead, they say he used the money for personal expenses, including credit card payments.
- He has already pleaded guilty to separate charges in New York that he misappropriated $25 million in funds invested in Aviron Pictures.
- The two charges can bring a maximum sentence in federal prison of 50 years, according to the U.S.
- Attorney’s Office for the Central District of California.