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Four additional members of Los Angeles-based fraud ring indicted for exploiting COVID relief programs

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, of Sun Valley, California; Arman Hayrapetyan, of Glendale, California; Edvard Paronyan, of Granada Hills, California; and Vahe Dadyan, 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.

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