Four Additional Members of Los Angeles-Based Fraud Ring Indicted for Exploiting COVID-Relief Programs
(STL.News) A federal grand jury in Los Angeles returned a superseding indictment, unsealed Thursday, charging four additional individuals for their alleged participation in a scheme to submit over 150 fraudulent loan applications seeking over $21.9 million in COVID-19 relief funds guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Manuk Grigoryan, 27, of Sun Valley, California; Arman Hayrapetyan, 38, of Glendale, California; Edvard Paronyan, 40, of Granada Hills, California; and Vahe Dadyan, 41, of Glendale, were each charged in a superseding indictment filed in the Central District of California with one count of conspiracy to commit wire fraud and bank fraud and one count of conspiracy to commit money laundering.
Grigoryan, Hayrapetyan, and Paronyan were each also charged with 11 counts of wire fraud and eight counts of bank fraud. In addition, Grigoryan and Hayrapetyan were each charged with one count of aggravated identity theft. Vahe Dadyan was charged with six counts of wire fraud, three counts of bank fraud, and one count of money laundering.
Grigoryan, Paronyan, and Vahe Dadyan made their initial court appearances before U.S.