A Laguna Niguel business man pleaded guilty in federal court to three counts of mail fraud, wire fraud and bank fraud. Donald Keith Goff, 66, admitted in court to the charges that stem from a series of fraud schemes to defraud banks and the U.S. Small Business Administration out of a loan to purchase gas stations.

Goff the scheme began in 2006 to defraud Grand Pacific Financial Corp which funded the $4.5 million gas station purchases in Fountain Valley. Goff and his stepdaughter, Monty Brown used a straw buyer who posed as an owner of the shell company that applied for the loan in the corporations name. After receiving the loans, Goff then schemed to defraud Nara Bank where he formed another shell corporation to purchase the gas station businesses.

Goff and Brown ran the gas station business and rather than use the proceeds of the business to pay off the loan, they used the money for personal expenses. Along with Goff, Brown was also charged as was Goffs wife Melanie. All have pleaded guilty and Goff is set to be sentenced on November 17, 2014 while Goff and Melanie Goff should be sentenced shortly. The straw buyer Greg Sullivan has not pleaded guilty and is set to go to trial in December 2014.

If convicted, Goff faces a maximum of 70 years in federal prison for his white collar crime.