LOS ANGELES (CBSLA.com) — A third man was arrested Tuesday in connection with a Chatsworth street race that killed two bystanders.

Karen Gary Balyan, 44, surrendered to Los Angeles Criminal Court Tuesday at about 10 a.m. with his attorney in response to a felony warrant that was issued for his arrest. Balyan, who pleaded not guilty Tuesday to two counts of murder, is being held on $3 million bail.

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Balyan is the third arrest in connection with the deadly street race on Feb. 26.

Henry Gevorgyan, 21, of Van Nuys, was the first to surrender in the case on Feb. 28, and “Street Outlaws” star Irael “Izzy” Valenzuela, 38, of Los Angeles, followed on March 3. Both men were charged with two counts of murder and both are being held on $2 million bail.

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Gevorgyan and Valenzuela were ordered to stand trial on April 21 and are scheduled to return to court on June 11.

According to the District Attorney’s Office, Gevorgyan was racing another vehicle on Plummer Street from Canoga Avenue, when he lost control of his car and struck several pedestrian spectators. He failed to stop and help the injured pedestrians and fled the scene of the collision, prosecutors said.

Eric Siguenza, 26, of Los Angeles, died at the scene and Wilson Thomas Wong, 50, of Torrance, was later pronounced dead at a hospital.

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If convicted as charged, Balyan faces a maximum possible sentence of 30 years to life in state prison, Los Angeles County District Attorney’s officials said.