Feds bust Armenian fraud ring accused of stealing $30M in COVID, small business loans
Share this @internewscast.com

For the second consecutive week, the Department of Homeland Security executed a significant early-morning operation in Los Angeles aimed at transnational organized crime groups. This week’s operation resulted in the arrest of fourteen individuals from an Armenian fraud network claimed to have illicitly obtained $30 million in COVID relief and Small Business loans intended for American taxpayers.

“If you’re unlawfully taking government funds, be prepared for us to knock on your door next,” warned U.S. Attorney for California’s Central District, Bill Essayli.

Authorities identify McGrayan as the mastermind behind the crime syndicate, which attempted to fraudulently acquire $47 million in federal aid and successfully acquired approximately $30 million. According to court documents, the accused are said to have used counterfeit documents, such as fake bank and tax records, to establish numerous shell companies to apply for the government funds.

“That’s $47 million in taxpayer funds that was meant to go to good use, and these transnational criminal organizations are exploiting the American people’s good will and using it for their personal gain,” said John Pasciucco, Acting Special Agent in Charge for HSI Los Angeles.  

Armenian flags

This week’s Department of Homeland Security raid netted 14 suspects in an Armenian fraud ring. (iStock)

After the fourteen suspects were arrested, they were brought to an unmarked, specially designated processing center to be booked. Law enforcement seized approximately $20,000 in cash, two money-counting machines, paper cash bands or currency straps in denominations of $2,000 and $10,000, multiple cell phones, multiple laptops, two loaded semi-automatic 9mm handguns, and boxes of 9mm ammunition.

The suspects are charged with a range of crimes from conspiracy, wire and bank fraud to money laundering.

Authorities say some of the money was spent on houses and luxury goods, other amounts were sent to Armenia, making it harder for the U.S. to trace.

Share this @internewscast.com
You May Also Like
Man swimming across Pennsylvania river drowns near family picnic area

Man Drowns While Swimming Across Pennsylvania River Near Family Picnic Site

A 30-year-old New Jersey man drowned near a family picnic area in…
Florida surgeon general working to end vaccine mandates

Florida Surgeon General Aims to Eliminate Vaccine Mandates

The American Academy of Pediatrics strongly recommends COVID-19 shots for children ages…
Feds intercept 1,300 barrels of meth precursor chemicals shipped from China to Mexico

Authorities Seize 1,300 Barrels of Meth Ingredients Shipped from China to Mexico

Federal officials made a high-seas interception of hundreds of thousands of pounds…
Venus Williams' coach reveals secret to training oldest US Open player

Coach Shares Key Strategies for Training Venus Williams, the Oldest Player in the US Open

Venus Williams served up plenty of history-making game this US Open. The…
Man shot in the leg during fight in Pelham

Man Injured in Leg During Pelham Altercation

BIRMINGHAM, Ala. (WIAT) — One man is dead while another is in…
First hearing held on detainees' legal rights at 'Alligator Alcatraz' after judge orders wind down

Initial Hearing on Detainees’ Legal Rights at ‘Alligator Alcatraz’ Following Judge’s Order to Wind Down

Attorneys representing detainees at an immigration detention center in the Florida Everglades…
Texas lawmakers approve letting private citizens sue abortion pill providers

Texas Lawmakers Pass Bill Allowing Private Citizens to Sue Abortion Pill Providers

Texas legislators approved a measure on Wednesday that enables private citizens to…
Jail leadership received high-level orders on Epstein case but failed to prevent six-hour monitoring gap: docs

Prison authorities were given direct instructions regarding the Epstein case but were unable to prevent a six-hour lapse in surveillance, according to documents.

When federal officials arrested Jeffrey Epstein on sex-trafficking charges in 2019, they…
US jobless claims rise slightly, but remain in a healthy range

US Unemployment Claims See Minor Increase, Staying Within Safe Levels

While layoffs are low, hiring has also weakened as part of what…
Winning Powerball jackpot numbers for September 3, 2025

Powerball Jackpot Results for September 3, 2025

The jackpot has climbed steadily after more than 40 consecutive drawings without…
Duck and Cover! 'De-Nuke' Before Its too Late!

Take Cover! Disarm Nuclear Weapons Before Time Runs Out!

Filmmakers frequently leverage apocalyptic end-of-the-world scenarios to captivate viewers. Whether it’s worlds…
Hurricane Lorena weakens as risk of flash floods and mudslides for Mexico's west coast remain

Hurricane Lorena Loses Strength, But Flash Flood and Mudslide Threat Continues on Mexico’s West Coast

MIAMI (AP) — Hurricane Lorena is losing strength and is expected to…