For the second week in a row, the US Department of Homeland Security carried out a dramatic, early-morning raid in Los Angeles targeting transnational organized crime rings. This week’s bust netted fourteen arrests from an Armenian fraud ring that investigators say stole $30 million in COVID relief and Small Business loans meant to help taxpaying Americans, Fox News reports.

The wanted suspect is Armenian born and uses the name William McGrayan. He surrendered to police in the bust, slowly walking out of his front door towards the armored vehicle with his hands over his head.

The criminal complaint says that an informant described McGrayan as "unhinged" claiming he talked about his ties to gangs in Armenia and threatened one person with a gun and baseball bat.

Investigators say McGrayan is the brains of the crime ring that applied to steal $47 million in federal funds and got away with around $30 million. Court documents read that the suspects allegedly used phony documents including fake bank and tax papers to create multiple shell companies that applied for the federal funds.

"That's $47 million in taxpayer funds that was meant to go to good use, and these transnational criminal organizations are exploiting the American people's good will and using it for their personal gain," said John Pasciucco, Acting Special Agent in Charge for HSI Los Angeles.

Of the 14 arrested, 13 are US citizens of Armenian descent. One of them could face deportation. The detainees have been taken to a special center for questioning and registration.

After the fourteen suspects were arrested, they were brought to an unmarked, specially designated processing center to be booked. Law enforcement seized approximately $20,000 in cash, two money-counting machines, paper cash bands or currency straps in denominations of $2,000 and $10,000, multiple cell phones, multiple laptops, two loaded semi-automatic 9mm handguns, and boxes of 9mm ammunition.

The suspects are charged with a range of crimes from conspiracy, wire and bank fraud to money laundering..

Authorities say some of the money was spent on houses and luxury goods, other amounts were sent to Armenia, making it harder for the US to trace.