3 Members Arrested For Exploiting COVID-Relief Programs

3 Members Arrested For Exploiting COVID-Relief Programs

3 Additional Members of Alleged Fraud Ring Based in San Fernando Valley Arrested on Charges of Exploiting COVID-Relief Programs

LOS ANGELES (STL.News) Expanding a case in which four people were indicted last year, federal authorities have charged four new defendants with participating in a scheme that allegedly submitted more than 150 fraudulent loan applications seeking nearly $22 million in COVID-19 relief funds authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Justice Department announced today.

Three of the new defendants were arrested Thursday as the result of a 33-count superseding indictment that charges a total of eight defendants with using fake, stolen or synthetic identities to submit fraudulent applications for loans guaranteed by the Small Business Administration (SBA) through the Economic Injury Disaster Relief Program (EIDL) and the Paycheck Protection Program (PPP) under the CARES Act.

The three defendants arrested Thursday are: Manuk Grigoryan, 27, of Sun Valley; Edvard Paronyan, 40, of Granada Hills; and Vahe Dadyan, 41, of Glendale.  All three were arraigned on the superseding indictment Thursday afternoon in United States District Court in downtown Los Angeles.  During court appearances that continued into the evening, a United States Magistrate Judge released all three on bond and ordered them to stand trial on May 4.

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Author: Editor 4