Merced County Superior Court Judge, Hon. David Moranda ruled today 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.
In January of this year 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.
The school employs more than 100 people to support its 250 students.