DHS Busts Armenian Transnational Crime Ring in Los Angeles for $30 Million Fraud

Multi-Million Dollar Fraud Ring Busted

• 🚨 Federal agents in Los Angeles have busted an Armenian fraud ring, charging 14 men with attempting to steal tens of millions of dollars from the government.
• 💡 The operation, led by DHS, targeted a transnational crime organization that allegedly stole $30 million in COVID relief and small business loans.
• 🏠 Investigators say the suspects created shell companies using phony documents and spent some of the stolen money on homes and luxury goods.

The Mastermind and Methods

• 🧠 The alleged mastermind, known by the alias William McGraan, is described as unhinged, with reported ties to gangs in Armenia and threats of violence.
• 💰 The fraudsters applied for $47 million in federal funds, successfully obtaining approximately $30 million.
• 🌍 A significant portion of the stolen funds was wired to Armenia, complicating efforts for US authorities to trace the money.

Legal Ramifications

• ⚖️ The suspects face charges including conspiracy, wire fraud, bank fraud, and money laundering.
• ⚠️ At least one suspect, who is Armenian-born but naturalized, faces deportation.
• 🎯 DHS emphasizes that anyone engaged in fraud and taking government money will be targeted.