August 1, 2025 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Hollywood Executive Agrees to Plead Guilty to Fraud and Money Laundering Charges for Stealing Money from COVID Relief Program

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) for Aviron entities when the entire operation was being shuttered as a result of his embezzlement.

In a plea agreement filed Thursday in United States District Court, William Sadleir, 67, of Beverly Hills, agreed to plead guilty to one count of bank fraud and one count of money laundering. Sadleir is scheduled to formally enter the guilty pleas on March 16.

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. 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.

Within days of the loans being funded on May 1, 2020, Sandleir transferred nearly $1 million to his personal checking account.

Sadleir “expended a substantial amount of the fraudulent loan proceeds on utility bills, mortgage expenses, and his personal attorney, among other things,” he admitted in his plea agreement. Sandleir “did not use any of the fraudulent loan proceeds to pay employees of the Aviron companies.”

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. 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.

Once he pleads guilty to the two offenses, Sandleir will face a statutory maximum sentence of 50 years in federal prison. Prosecutors have agreed to recommend that whatever sentence is imposed should run concurrent with a sentence to be imposed in a pending case in the Southern District of New York. Sandleir is scheduled to be sentenced in the New York case on May 10 after he pleaded guilty in January to wire fraud for misappropriating more than $25 million that had been invested in Aviron.

in Crime, News
Related Posts

Last Call: Culver City Wants Your Input in Hiring Its Next City Manager

July 31, 2025

July 31, 2025

Public Survey Open Through August 1 Invites Residents to Weigh In As Culver City begins its search for a new...

1,000 Additional National Guard Troops Withdrawn From LA as Federal Presence Continues to Shrink

July 31, 2025

July 31, 2025

National Guard Presence in Los Angeles Slashed Again Amid Ongoing Rollback Roughly an additional 1,000 National Guard troops have been...

Luxury Watches Stolen From Keanu Reeves Recovered in Chile, To Be Returned to Actor

July 31, 2025

July 31, 2025

Six Rolex Watches Worth Over $120,000 Were Seized in Santiago Police Raid Six high-end watches stolen from actor Keanu Reeves’...

Aging Mindfully: Zen-Inspired Senior Living Takes Shape in Simi Valley

July 31, 2025

July 31, 2025

Two Zen-inspired senior living communities are embracing the reality of aging — consciously. Ensō Village, open since 2023 in Sonoma County,...

Trio of Suspects Busted in $50K Beauty Heist at Culver City Store

July 31, 2025

July 31, 2025

Burglars Try to Flee, But Culver City PD Catches All ThreePolice arrested three suspects late Sunday night following a break-in...

Lulu Hosts Summer Tardeada With Guest Chef From Oakland’s Bombera

July 30, 2025

July 30, 2025

Chef Dominica Rice-Cisneros Joins Alice Waters for a Courtyard Celebration Lulu, the acclaimed restaurant located at the Hammer Museum, will...

Film Review: Together

July 30, 2025

July 30, 2025

By Dolores Quintana Dave Franco and Alison Brie, a married couple in real life, star in Michael Shanks’ gruesomely passionate...

Heidi Klum’s Tropical Erewhon Smoothie Drops Just in Time for Summer

July 30, 2025

July 30, 2025

Supermodel’s Limited-Edition Drink Blends Kiwi, Coconut, and Matcha Erewhon has debuted its newest celebrity smoothie collaboration, this time with supermodel...

‘Challahboration’ Hits Culver City with Sausage-Stuffed Treats and French Cruller Flair

July 30, 2025

July 30, 2025

Nyletta, Nyletta and Challah Dad Serve Summer Sizzle in Culver City A limited-run culinary collaboration is coming to Hi-Lo Liquor...

UCLA Agrees to $6.1 Million Settlement Over Alleged Discrimination During Campus Protests

July 30, 2025

July 30, 2025

Faculty Group Argued Protest Wasn’t Antisemitic; Judge Approval Still Pending UCLA will pay more than $6 million to settle a...

Tsunami Advisory Issued for Los Angeles Coast After 8.7 Quake Near Russia

July 29, 2025

July 29, 2025

Strong Currents, Surges Expected; Residents Urged to Avoid Beaches and Harbors Update from NWS Los Angeles at 6:50 a.m. “Latest...

Brazen Wheel Thieves Hit Beverly Grove, Hollywood Neighborhoods

July 29, 2025

July 29, 2025

Early-Morning Thefts Leave Cars on Blocks; Residents Coordinate  Los Angeles police are investigating a growing number of wheel thefts reported...

Westchester Del Rey Stuns Tucson With 11-Run Inning to Reach World Series

July 29, 2025

July 29, 2025

 Westside Team Heads to Greenville, North Carolina to Compete for Glory  Westchester Del Rey Little League is headed to the...

Felony Charges Dropped for Man in UCLA Encampment Attack After Diversion Deal

July 28, 2025

July 28, 2025

Malachi Marlan-Librett Must Complete Therapy, Anti-bias Training in Hate Crime Case The only person charged with a felony in connection...

Fiesta La Ballona Returns to Culver City With Rides, Food, and Family Fun

July 28, 2025

July 28, 2025

Discounted Unlimited Ride Wristbands Now Available Online Fiesta La Ballona is set to return to Veterans Memorial Park on August...