The Brief
- Fourteen individuals were arrested for allegedly defrauding over $25 million in COVID-19 relief and small business loans.
- The scheme involved a transnational criminal network, with four additional suspects believed to be in Armenia.
- Authorities seized cash, weapons, and other evidence during the arrests as the investigation continues.
LOS ANGELES – Fourteen individuals were arrested in connection with a vast scheme to fraudulently obtain over $25 million in COVID-19 relief funds and federally-guaranteed small business loans, according to U.S. Immigration and Customs Enforcement.
The alleged criminal network, with some members believed to be in Armenia, involved concocting sham corporations, phony documents, and false tax returns to secure loans.
What we know:…