Southern California man sentenced for $5M bank fraud scams
FIRST. THIS IS KCRA 3 NEWS AT 4:00. TEO: GOOD MORNING. I AM TEO TORRES. DEIRDRE: I AM DEIRDRE FITZPATRICK. TEO: A TEENAGER UNDER ARREST FOLLOWING A CONFRONTATION WITH POLICE IN YOLO COUNTY. WINTERS POLICE SAY THE TEENAGER WAS OUTSIDE A POLICE DEPARTMENT ARMED WITH A KNIFE. HE PULLED OUT A GUN, THROUGH IT INTO THE BUSHES AND RAN. AT SOME POINT A SHOT WAS FIRED FROM DEPUTIES. THE TEEN WAS NOT HURT. TO OFFICERS HAVE MINOR INJURIES. DEIRDRE: ASTRAZENECA AT THE UNIVERSITY OF OXFORD SAY LARGE-SCALE TRIALS OF THE VACCINE IS HIGHLY EFFECTIVE. IT HAS A 70% EFFECTIVE RATE. TEO: RESEARCHERS SAFER PATIENTS GIVEN TWO FULL DOSES A MONTH APART HAD AN EFFECTIVENESS OF 62% EFFECTIVENESS. WHEN THE SHOT WAS JUST HALF A DOSE, THAT GREW TO 90%. DEIRDRE: LET US HEAD TO EILEEN JAVORA. EILEEN: THIS WEATHER SYSTEM IS DIPPING A LITTLE FURTHER SOUTH SO IT LEFT A DUSTING IN THE HIGH SIERRA. TEMPERATURES HOLDING YOUR 40 IN SACRAMENTO — NEAR 40 IN SACRAMENTO, 46 PLACERVILLE AND FAIRFIELD. PARTLY CLOUDY AND MAINLY CLEAR SKIES THIS MORNING. THE BREEZE WILL PICK UP TODAY BUT YOU WILL SEE TEMPERATURES PRETTY SIMILAR TO YESTERDAY. 50’S MIDDAY AND THEN 60’S THIS AFTERNOON. WE ARE TRACKING A LITTLE BIT OF FOG. WE WILL TRACK THAT COMING UP.
Southern California man sentenced for $5M bank fraud scams
Updated: 5:47 PM PST Nov 23, 2020
A Southern California man was sentenced to federal prison Monday for bilking banks out of nearly $5 million by racking up expenses on illegally obtained credit cards, including cemetery plots, liquor and Rolex watches, prosecutors said.Mikayel Hmayakyan, 43, of Glendale, was sentenced to seven years in prison. He pleaded guilty in June to bank fraud and aggravated identity theft. He also was ordered to pay nearly $5 million in restitution.Hmayakyan and others swindled more than 20 banks by obtaining credit cards using their own or phony identities. After running up the cards to their credit limits, the schemers restored the credit lines by submitting payments from accounts with insufficient funds or through other fake accounts, according to a statement from the U.S. attorney’s office.The charges included dozens of watches and other jewelry items, nearly 40,000 liquor bottles and plots at Forest Lawn cemetery, prosecutors said. The liquor was bought for a now-closed Glendale liquor store, while the cemetery plots were resold at a profit, authorities said.Prosecutors say Hmayakyan also bilked banks by applying for loans in the names of real and fictitious people that he used to buy cars without making the loan payments.The schemes took place from 2010 through 2017, authorities said.Two other people pleaded guilty in connection with the schemes earlier and a third awaits trial.
A Southern California man was sentenced to federal prison Monday for bilking banks out of nearly $5 million by racking up expenses on illegally obtained credit cards, including cemetery plots, liquor and Rolex watches, prosecutors said.
Mikayel Hmayakyan, 43, of Glendale, was sentenced to seven years in prison. He pleaded guilty in June to bank fraud and aggravated identity theft. He also was ordered to pay nearly $5 million in restitution.
Hmayakyan and others swindled more than 20 banks by obtaining credit cards using their own or phony identities. After running up the cards to their credit limits, the schemers restored the credit lines by submitting payments from accounts with insufficient funds or through other fake accounts, according to a statement from the U.S. attorney’s office.
The charges included dozens of watches and other jewelry items, nearly 40,000 liquor bottles and plots at Forest Lawn cemetery, prosecutors said. The liquor was bought for a now-closed Glendale liquor store, while the cemetery plots were resold at a profit, authorities said.
Prosecutors…
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