Armenian Residents in the US Purchase Homes and Luxury Goods Worth $18 Million Intended for COVID-19 Relief

Federal jurors in the United States have found two Armenian brothers from the Encino neighborhood of Los Angeles and their relatives guilty of fraud and money laundering. This was reported by the American channel CBS, as noted by Hetq.

The defendants include 42-year-old Richard Ayvazyan, his wife 37-year-old Marieta Ter-Avetisyan, his brother 41-year-old Arthur Ayvazyan, and Arthur's brother-in-law, 41-year-old Vahe Dadyan, who resides in Glendale. Arthur Ayvazyan was also found guilty of aggravated identity theft.

According to prosecutors, these Armenians hid under fake identities, presenting themselves, for instance, as “Yulia Zhadka” and “Victoria Kauitchko” to apply for economic assistance programs meant to mitigate the negative impact of COVID-19.

The U.S. Department of Justice reported that fake documents, identities, tax documents, and payment information were frequently used in the applications. The defendants spent more than $18 million received from COVID-19-related aid funds on luxurious homes in Tarzana, Glendale, and Palm Desert, as well as gold coins, jewelry, high-end watches, furniture, bags, clothing, and a Harley-Davidson motorcycle.

“In a bid to get rich quickly, the defendants misappropriated federal funds intended to assist Americans impacted by the COVID-19 pandemic and to combat the economic devastation that arose from it,” stated prosecutor Tracy L. Wilkinson.

The jurors decided that the defendants should be stripped of their bank accounts, valuable items, watches, gold coins, three residences, and approximately $450,000 in cash. The Armenian relatives face decades of imprisonment in a federal prison. The court will announce the verdict on September 13.

Prosecutors revealed that an additional four individuals involved in this case have already pleaded guilty. Among them is 39-year-old Tamara Dadyan, a resident of Encino, who is the wife of Arthur Ayvazyan and the niece of Vahe Dadyan. T. Dadyan has admitted guilt in bank fraud, wire fraud, aggravated identity theft, and money laundering by agreement. The 39-year-old woman faces up to 52 years in federal prison. The verdict will be read on September 27.

Also, 46-year-old Manuk Grigoryan from Sun Valley and 40-year-old Edward Paronyan from Granada Hills, as well as 41-year-old Arman Hayrapetyan from Glendale, have also pleaded guilty to fraud, identity theft, and money laundering. Each of them faces several decades in prison, with sentencing results expected in August and September.