Rancho Cordova Businessman to Spend One Year in Prison
for Transmitting Money Without a License

SACRAMENTO, Calif.—United States Attorney McGregor W. Scott announced today that ARSEN ABRAMYAN, age 40, of Sacramento, Calif., was sentenced to a year in prison by Judge Lawrence K. Karlton for the criminal offense of conducting an unlicensed money transmitting business in violation of federal law requiring the registration of such businesses.

The prosecution is the result of a joint investigation conducted by the Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigation.

According to Assistant United States Attorneys S. Robert Tice-Raskin and Courtney J. Linn, who prosecuted the case, from approximately April 2005 through December 2005, ABRAMYAN operated a business known as Little Armenia Gift shop in Rancho Cordova as a money transmitting business that transmitted funds to Armenia on behalf of the store’s customers. In connection with this activity, ABRAMYAN would make large cash deposits into bank accounts he maintained at Washington Mutual Bank, Wells Fargo Bank, Bank of America, and First Bank and then would initiate wire transfers from those accounts to Armenia. Beginning in June 2005, banking representatives repeatedly advised the defendant orally and in writing that federal law required certain money transmitting businesses to register with a bureau of the U.S. Department of the Treasury business known as the Financial Crimes Enforcement Network (FinCEN). Two banks closed his accounts when he failed to demonstrate that he was so registered or explain why he was not required to be registered. In response to these account closings ABRAMYAN then shifted his money transmitting business activities to other banks and continued to conduct the money transmitting business without registering with FinCEN as required by federal law. ABRAMYAN was also ordered to serve a two-year term of supervised release following his prison term, and to pay a $200 assessment.

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