Federal authorities have arrested 14 suspects in Los Angeles linked to an Armenian organized crime ring accused of stealing $30 million in COVID relief and Small Business loans intended to support American taxpayers.
The bust, part of a multi-agency operation led by the Department of Homeland Security (DHS), marks the second week in a row of early-morning raids targeting transnational criminal groups in the area.
Thirteen of those arrested are Armenian-born, with at least one facing possible deportation. The operation involved agencies including the IRS and the Small Business Administration. Following their arrest, the suspects were taken to a secured processing center, where law enforcement seized $20,000 in cash, money-counting machines, cell phones, laptops, two loaded 9mm handguns, and ammunition.
One of the key figures in the case is William McGrayan, an Armenian-born suspect believed to be the mastermind behind the scheme. Court documents reveal McGrayan allegedly used fake tax and bank documents to establish multiple shell companies, applying for $47 million in federal funds and successfully securing about $30 million.
An informant described McGrayan as “unhinged,” claiming he discussed gang connections in Armenia and once threatened an individual with a gun and a baseball bat. Authorities say McGrayan played a central role in moving stolen money through luxury purchases and overseas transfers, complicating efforts to recover the funds.
McGrayan surrendered during the operation, walking out with his hands raised.
U.S. Attorney for California’s Central District Bill Essayli emphasized the commitment to hold fraudsters accountable: “If you are taking money from the government that doesn’t belong to you, your door could be the next one we’re hitting.”
John Pasciucco, Acting Special Agent in Charge for Homeland Security Investigations in Los Angeles, added, “That’s $47 million in taxpayer funds meant for good use, and these transnational criminal organizations are exploiting the American people’s goodwill for their personal gain.”
The suspects face multiple charges, including conspiracy, wire and bank fraud, and money laundering. Authorities say some of the stolen funds were used to buy houses and luxury goods, while other amounts were sent overseas, making recovery more challenging.
This latest bust follows a dramatic early-morning raid where a special unit inside an armored vehicle cut through a gated driveway and ordered suspects out of their homes.
The ongoing investigation underscores the nationwide effort to combat transnational criminal organizations exploiting government relief programs and harming public safety.
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