Andranik Aloyan, a known associate of the Armenian Power gang, has been convicted for his role in a racketeering conspiracy that included stealing personal and financial information of elderly bank customers who held accounts that were valued at more than $25 million.

Acting Assistant Attorney General Mythili Raman, of the Justice Department’s Criminal Division; U.S. Attorney Andre Birotte Jr., of the Central District of California; and Assistant Director in Charge Bill L. Lewis, of the FBI’s Los Angeles Field Office recently came together to announce that the defendant was convicted on Feb. 11 of racketeering conspiracy, attempted bank fraud, access device fraud, four counts of aggravated identity theft, and possession of a firearm by a convicted felon.

Aloyan, 40, of Los Angeles, also allegedly possessed personal and financial information for more than 75, mostly elderly customers, of banks throughout the country. The combined value of the accounts for which Aloyan possessed account information exceeded $25 million.

Aloyan was among 90 individuals charged in two indictments, including a 140-count indictment in July 2011 charging 70 defendants with numerous criminal activities associated with the Armenian Power gang. The indictment accused 29 defendants, including Aloyan, of participating in the Armenian Power racketeering conspiracy that involved illegal activities such as fraudulent bank fraud schemes, identity theft, debit-card skimming, manufacturing counterfeit checks and laundering criminal proceeds. Additionally, defendants in the case were allegedly involved in a variety of violent crimes, such as kidnapping, extortion and firearms offenses, along with other crimes such as drug trafficking and illegal gambling.

According to court documents, the Armenian Power street gang formed in the East Hollywood area in the 1980s. The gang’s membership consisted primarily of individuals of Armenian descent, as well as of other countries within the former Soviet Union and Soviet bloc countries. Armenian Power has been designated under California state law as a criminal street gang and is believed to have more than 250 documented members, as well as hundreds of associates.