Exclusive | DHS busts transnational crime ring | Armenian fraud ring busted - video Dailymotion

Global News

Exclusive | DHS busts transnational crime ring | Armenian fraud ring busted   Fox News correspondent Matt Finn reports on the bust of a multi-million-dollar Armenian fraud ring uncovered by federal agents in Los Angeles.   Stay informed with the latest headlines and in-depth coverage from around the world — follow Global News Update for real-time news you can trust. Don’t miss a story — hit follow now!   #foxnews #armenian #news #us #crime #losangeles #exclusive #newsupdates #GlobalNewsUpdate #BreakingNews #WorldNews #NewsToday #LiveNews #DailyNews #24x7News #TrustedNews #TopStories #InternationalNews #globalnews #worldnews

Transcript

00:00We also, you know, found that they were spending this money that was meant for people that need it in order to exploit the American people.

00:07Federal agents bust up an Armenian fraud ring in Los Angeles.

00:1214 men charged with trying to steal tens of millions of dollars from the government.

00:18Matt Finn, we've got an exclusive look at the action.

00:20He joins us now with more on the story there.

00:22Matt, what is the story?

00:23Well, Bill, this is the second time in a matter of days that the feds have busted a transnational crime organization here in Los Angeles.

00:36This is the police. We have a warrant. Come out with your hands up.

00:41Fox News exclusively capturing Homeland Security's sunrise bust of this Armenian-born man at his L.A. area home.

00:49You're talking? You're talking?

00:50The suspect, who uses the alias William McGrayen, surrenders with his hands over his head.

00:57Investigators say McGrayen is the brains of a transnational crime ring that stole $30 million in COVID relief and small business loans meant to help taxpaying Americans.

01:08If you're engaged in fraud, if you're taking money from the government that doesn't belong to you, your door could be the next one that we're hitting.

01:14According to court documents, an informant describes McGrayen as unhinged, claiming he talked about his ties to gangs in Armenia and threatened one person with a gun and a baseball bat.

01:25In the multi-agency sting led by DHS, 14 people were taken into custody.

01:31The suspects are simultaneously arrested across town so they can't tip one another off.

01:36And then they're brought to this special processing center to be booked.

01:40The suspects are charged with conspiracy, wire and bank fraud, and money laundering.

01:45Investigators say multiple shell companies were created using phony documents.

01:49Some of the money was spent on homes and luxury goods.

01:53The rest was wired to Armenia, making it harder for the U.S. to trace.

01:57These fraudsters applied for $47 million in federal funds.

02:05They got away with about $30 million.

02:07Most are Armenian-born but have become naturalized and at least one faces deportation.

02:13Bill.

02:14Thank you, Matt.

02:15Matt Finn, why don't you get on that?

02:16A lot of money on the line, too, from Los Angeles.

02:20Hey, everyone.

02:21I'm Emily Campagno.

02:22Catch me and my co-hosts Harris Faulkner and Kayleigh McEnany on Outnumbered every weekday at 12 p.m. Eastern.

02:29Or set your DVR.

02:30Also, don't forget to subscribe to the Fox News YouTube page for daily highlights.

Exclusive | DHS busts transnational crime ring | Armenian fraud ring busted

Category

Transcript

Recommended