An Orange County man was sentenced Sept. 26 to four years in prison for fraudulently obtaining more than $5 million in COVID-19 relief loans to buy properties in Eagle Rock, Malibu, and Irvine.
Reddy Budamala, 36, of Irvine, was also ordered to pay $5.15 million in restitution to the Small Business Administration, according to the U.S. Attorney’s Office.
He will be deported to his native India once he completes his prison sentence, according to the government’s sentencing memorandum.
He pleaded guilty in June to one federal count each of bank fraud and money laundering. He was arrested in February when he attempted to flee to Mexico via the San Ysidro border crossing….