Financial Crime World

Armenian Organized Crime Ring Members Convicted in Major California Identity Theft and Bank Fraud Scheme

In a landmark case, four members and associates of an Armenian organized crime ring have been convicted in a complex bank fraud and identity theft scheme, which authorities described as one of the largest in California history.

Key Players in the Scheme

  • Arman Sharopetrosian, serving time in Avenal State Prison but reportedly ran the operation using smuggled cellphones.
  • Kristine Ogandzhanian
  • Artush Margaryan
  • Keren Markosian

The Criminal Enterprise

The defendants are believed to have ties to the Mexican Mafia and high-level organized crime figures in Eastern Europe. The criminal enterprise was accused of:

  1. Obtaining personal information
  2. Orchestrating a scheme to order checks from victims’ bank accounts
  3. Impersonating victims
  4. Intercepting packages containing checks
  5. Utilizing digital skimming devices and micro cameras at bank ATMs

The Trial and Charges

During a five-week trial in the US District Court in Santa Ana, the defendants faced counts of bank fraud and conspiracy to commit bank fraud. Charges included:

  • Orchestrating a scheme to defraud millions of dollars from victims in four states over a six-year period
  • Conspiring with bank employees
  • Impersonating victims
  • Intercepting packages containing checks

The Use of Technology in the Crime

The elaborate scheme also involved the use of digital skimming devices and micro cameras that were discreetly installed at bank ATMs to collect debit card information and PINs.

The Importance of Stopping Criminal Activities

Steve Martinez, assistant director in charge of the FBI in Los Angeles, commented on the trend of criminal groups branching out into white-collar crime:

“This scheme is a growing trend among organized crime groups that traffic in drugs, commit financial fraud, or wreak other havoc to keep themselves going.”

Assistant Atty. Gen. Lanny A. Breuer added:

“Whether organized criminal groups engage in white-collar crimes or other illicit activities, they must be stopped.”

The Significance of the Identity Theft Scheme

U.S. Atty. André Birotte Jr. emphasized the importance of the identity theft scheme and the need to remain vigilant against such criminal activities.

Sentencing and Consequences

Sharopetrosian and the other three defendants now face a maximum sentence of 30 years for each count of bank fraud and 30 years for each count of conspiracy to commit bank fraud. Margaryan was convicted by a jury, while the remaining defendants were tried by the judge.