Armen Martirosyan pled guilty to federal fraud for opening more than a dozen bank accounts. He knew that these accounts would be used to launder tax refunds obtained from false tax returns using stolen identities.
He opened the first account in 2009 and deposited $189,000 from 24 fraudulent tax refunds. Over the years Martirosyan opened a total of 15 bank accounts to launder money from illegal returns and laundered more than $1,866,000 in stolen funds.
Martirosyan was part of a much larger crime ring that used false identities and fake Republic of Armenia passports to open hundreds of bank accounts used to launder funds from false tax returns. The scheme involved approximately 7000 false tax returns that sought almost 38 million dollars in refunds. The IRS issued nearly 14 million dollars in false refunds.
For his part in the scheme Martirosyan faces a maximum sentence of 30 years in prison.