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Armenian Fraud Ring Smashed in U.S.

The U.S. Attorney’s office says a 33-year-old man from the nation of Armenia has pleaded guilty to an identity theft scheme in which he and others bought nearly $230,000 worth of expensive cars and jet skis.

Artur Galstyan admitted in his plea Wednesday that he and his co-conspirators had no intention of making payments on the vehicles purchased in the Kansas City area from November 2009 through September 2010.

Galstyan lives in Aurora, Colo. But he and others involved in the scheme leased apartments and office space in Kansas City to create the pretense of being local residents.

They used false identities to get financing on the cars and jet skis, then shipped many of the purchases out of the U.S. to the Russian Federation so they could not be recovered.

A sentencing date will be set later.

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