LOS ANGELES (AP) — An associate of the Armenian Power gang has been sentenced to more than 13 years in prison for his role in a conspiracy that bilked elderly bank customers of more than $3.5 million.
Federal prosecutors say Andranik Aloyan (an-DRAN’-nick ah-LOY-ahn) of Los Angeles was ordered Monday to repay the stolen money.
Assistant U.S. Attorney Martin (mar-TEEN’) Estrada says Aloyan was a fraud specialist with the gang formed in Hollywood in the 1980s.
He was convicted in February of a racketeering conspiracy, identification theft, attempted bank fraud and possession of a firearm by a convicted felon.
Estrada says Aloyan used stolen information to siphon funds from 80 mostly elderly bank customers who had a combined $25 million in the bank.
Aloyan, 41, was among 90 people charged in federal court with related crimes.
