Philip Camino Admits to Conspiracy, Faces Up to 20 Years in Prison
A Culver City restaurateur pleaded guilty on Wednesday to fraudulently obtaining more than $4 million in COVID-19 relief loans intended to assist struggling businesses during the pandemic. Philip Frederick Camino, 45, admitted to one count of conspiracy to commit wire fraud.
Camino, who owns a hospitality company responsible for developing restaurants and hotels across California, Tennessee, and Kentucky, submitted false applications to the Small Business Administration (SBA) and various banks between April 2020 and April 2021. These applications sought loans through the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, established by Congress to provide economic relief during the pandemic.
Camino owns several companies in Hollywood, Westwood, Studio City, Beverly Hills, and Arizona.
According to court documents, Camino falsely inflated the number of employees on payroll, provided fictitious federal tax forms and falsely certified that loan funds would be used for legitimate business expenses. Based on this fraudulent information, the SBA and banks approved the loans, depositing the funds into an account controlled by Camino.
Camino misused most of the funds for personal expenses, which violated the terms of the PPP and EIDL programs. This included paying more than $100,000 in kickbacks to an accomplice. In one instance, Camino sent false documentation to a bank supporting a $144,270 PPP loan application on behalf of a company controlled by a co-conspirator.
Camino submitted more than 20 fraudulent loan applications, securing over $4 million in relief funds.
U.S. District Judge Fred W. Slaughter has scheduled Camino’s March 6, 2025 sentencing. Camino faces a maximum sentence of 20 years in federal prison.
Homeland Security Investigations, the FBI, and the IRS Criminal Investigation division are investigating the case. Assistant U.S. Attorney Jennifer L. Waier of the Santa Ana Branch Office is prosecuting it.
