Northern California man pleads guilty in PPP loan scheme

A Rocklin man awaiting sentencing in a $4.8 million embezzlement scheme pleaded guilty Thursday in Sacramento federal court to making a false statement on COVID-19 paycheck protection program loans for his solar business.

Kevin Lee Co, 51, entered the plea as part of an agreement that could result in him being sentenced to a total of 10 years in federal prison.

Co appeared with his defense attorney, Candice Fields, before U.S. District Judge Troy L. Nunley, who set sentencing for Aug. 18.

“After many years of successful compliance on pretrial release while his original case was pending, Mr. Co checked the wrong box on his PPP application and has taken responsibility for that misstep,” Fields said after court. “He looks forward to finally resolving his entire case in the near future.”

Co has been in custody in the Sacramento County Main Jail since September, when Assistant U.S. Attorney Brian Fogerty asked the court to revoke his release because of the PPP loan fraud scheme for his Rocklin-based solar company, Apollo Home Performance, court papers say.