Tuesday, July 5, 2016

Alleged fraud uncovered in California regional center

Merced (California) County Superior Court Judge David Moranda ruled May 31 that a felony criminal case involving Sierra Academy of Aeronautics and KS Aviation co-owner Daniel B. Yoon, 66, must proceed to trial.
Yoon is facing two counts of fraud (intent to defraud) and two counts of falsification of corporate documents.
Prosecutor Walter Wall said in court that accusing him of falsely using the name of the flight school’s second owner, John Yoon (no relation), while applying for a $3 million loan from the Small Business Association and forging documents diminishing the percentage of ownership in Dan Yoon’s favor. He said the alleged illegal loans where used to purchase a flight simulator from the Boeing Aircraft Corporation, which is a critical component of the flight school’s pilot training program.
Last January, federal agents from the U.S. Treasury Department raided the Atwater flight school as part of a federal investigation.
Daniel Yoon is facing a host of legal problems in civil court.
John Yoon is suing Daniel Yoon in a fight for control over the flight school, which was established in the Bay Area and moved to Castle in 2004.
The civil lawsuit between John Yoon and Daniel Yoon is ongoing.
The Sierra Academy of Aeronautics is a school that trains commercial pilots for several Asian commercial flight companies.  Daniel Yoon owns a regional center called Sierra Air Center Development, LLC, which was established to provide flight training.  His regional center is under investigation by U.S. Citizenship and Immigration Services, and was moved to Castle, CA, several years ago.