Four Persons Charged With $21.9Mln COVID-19 Relief Fraud - US Dept. Justice

Four Persons Charged With $21.9Mln COVID-19 Relief Fraud - US Dept. Justice

Four individuals have been charged by a federal grand jury in Los Angeles for their alleged participation in a conspiracy to commit fraud with COVID-19 relief funds, the US Department of Justice said in a release on Friday

WASHINGTON (Pakistan Point News / Sputnik - 12th March, 2021) Four individuals have been charged by a federal grand jury in Los Angeles for their alleged participation in a conspiracy to commit fraud with COVID-19 relief funds, the US Department of Justice said in a release on Friday.

"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," the release said.

The Justice Department said Manuk Grigoryan, Arman Hayrapetyan, Edvard Paronyan, and Vahe Dadyan conspired to commit wire fraud, bank fraud and money laundering, but it additionally charged Grigoryan and Hayrapetyan with one count of identity theft.

The four were recognized as co-defendants of the previously indicted Richard Ayvazyan, Marietta Terabelian, Artur Ayvazyan and Tamara Dadyan in the same case, the release said.

According to the indictment, the defendants used the fraudulently obtained funds as down payments on luxury homes and to buy precious jewelry, designer handbags, clothing and cryptocurrency.

If convicted, each defendant face up to 30 years in prison, the release said.