A Sunland man who fraudulently obtained COVID-19 business loans and jobless benefits has been sentenced to more than five years in federal prison., the Justice Department announced.
In 2020, Arman Grigoryan, 42, and others allegedly used other people’s identities to apply for unemployment benefits. Once the fraudulent applications were approved, Grigoryan was awarded debit cards from which he withdrew cash, officials said.
Grigoryan and others also used other people’s identities and shell companies to apply for COVID-19 relief loans to help businesses that struggled during the pandemic. Along with the identity information, they submitted falsified payroll information and attached forged tax forms to demonstrate the need for relief.
Once the banks approved the loans, Grigoryan and his accomplices withdrew the funds by writing checks to shell companies and withdrawing the cash.
Grigoryan caused at least $2,880,259 in actual losses through this conspiracy, according to a Justice Department news release.
Grigoryan pleaded guilty in October 2021 to one count of conspiracy to commit bank fraud.
Grigoryan was sentenced Tuesday, June 6, and was ordered to pay $2,880,259 in restitution.
Read the full article here