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.
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