The conspirators obtained more than $18 million in COVID-relief funds. They also used the funds to buy gold coins, diamonds, jewelry, luxury watches, fine imported furnishings, designer handbags, clothing, and a Harley-Davidson motorcycle.
The defendants then used the fraudulently obtained funds as down payments on luxury homes in Tarzana, Glendale and Palm Desert. In support of the fraudulent applications, the defendants often submitted false and fictitious documents to lenders and the SBA, including fake identity documents, tax documents and payroll records. On June 28, the jury found the defendants must forfeit bank accounts, jewelry, watches, gold coins, three residential properties and approximately $450,000 in cash.Īccording to the evidence presented at trial, the defendants used fake, stolen and synthetic identities – including the created identities of “Iuliia Zhadko” and “Viktoria Kauichko” – to submit fraudulent applications for PPP and EIDL loans guaranteed by the Small Business Administration (SBA) under federal law. Vahe Dadyan also was found guilty of one count of money laundering. Artur Ayvazyan also was found guilty of one count of aggravated identity theft. Richard Ayvazyan also was found guilty of two counts of aggravated identity theft. Richard Ayvazyan’s brother, Artur Ayvazyan, 41, of Encino Īll four defendants were found guilty of one count of conspiracy to commit bank fraud and wire fraud, 11 counts of wire fraud, eight counts of bank fraud and one count of conspiracy to commit money laundering.Richard Ayvazyan’s wife, Marietta Terabelian, 37, of Encino.LOS ANGELES – A federal jury has found four Los Angeles-area residents guilty of criminal charges for scheming to submit fraudulent loan applications seeking millions of dollars in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds.Īt the conclusion of an eight-day trial, the following defendants were found guilty on June 25:
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