<img src=’https://www.grimytimes.com/images/covid-19-relief-scam.jpg’ alt=’COVID-19 Relief Scam’ height=’200′ width=’300’>
Four California residents, including a married couple, have been found guilty of scheming to obtain millions of dollars in COVID-19 relief funds. Richard Ayvazyan, 42, his wife Marietta Terabelian, 37, and his brother Artur Ayvazyan, 41, all of Encino, were each convicted of multiple counts of bank and wire fraud, as well as conspiracy to commit money laundering. Vahe Dadyan, 41, of Glendale, was also found guilty of multiple counts of fraud and money laundering.
According to the evidence presented at trial, the defendants used fake, stolen, or synthetic identities to submit fraudulent applications for Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds. They then used the fraudulently obtained funds to purchase luxury homes, gold coins, diamonds, jewelry, luxury watches, fine imported furnishings, designer handbags, clothing, and a Harley-Davidson motorcycle.
The conspirators obtained more than $18 million in COVID-19 relief funds, which they used to fuel their lavish lifestyle. The jury found that the defendants must forfeit bank accounts, jewelry, watches, gold coins, three residential properties, and approximately $450,000 in cash.
The four defendants are scheduled to be sentenced on September 13. Richard Ayvazyan faces a maximum sentence of 30 years in federal prison, while Vahe Dadyan faces a maximum sentence of 30 years. Artur Ayvazyan and Marietta Terabelian each face a maximum sentence of 30 years.
The COVID-19 Fraud Enforcement Task Force was established in May 2021 to combat the growing threat of COVID-19-related fraud. The task force is made up of agencies across the country, including the FBI, IRS Criminal Investigation, the SBA’s Office of Inspector General, and the Federal Housing Finance Agency – Office of Inspector General.
The case was investigated by the FBI, IRS Criminal Investigation, the SBA’s Office of Inspector General, and the Federal Housing Finance Agency – Office of Inspector General, and was prosecuted by the Justice Department’s Fraud Section and the Central District of California.
Acting Assistant Attorney General Nicholas L. McQuaid and Acting U.S. Attorney Tracy L. Wilkison of the Central District of California made the announcement. Additional information about the case can be found on the website of the U.S. Attorney’s Office for the Central District of California.
Other defendants in the case have already pleaded guilty to criminal charges. Manuk Grigoryan, 46, of Sun Valley, pleaded guilty to bank fraud and aggravated identity theft and faces up to 32 years in federal prison. Edvard Paronyan, 40, of Granada Hills, pleaded guilty to wire fraud and faces up to 20 years in federal prison. Tamara Dadyan, 39, of Encino, pleaded guilty to conspiracy to commit bank fraud and wire fraud, aggravated identity theft, and conspiracy to commit money laundering and faces up to 52 years in federal prison. Arman Hayrapetyan, 41, of Glendale, pleaded guilty to conspiracy to commit money laundering and faces up to 20 years in federal prison.
Related Federal Cases
- California Restaurant Owner Sentenced to 30 Months for Covid-19 Relief Fund Fraud · Oregon
- California Duo Sentenced in $3M Homeowner Scam · New Hampshire
- Richland Couple Rakes in Nearly $600K in Renewable Energy Scam · Maryland
- Stoughton Man Indicted in $220K COVID Loan Scam · Ohio
- Lab Owners Charged in $36M COVID-19 Testing Scam · Texas
Key Facts
- State: California
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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