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3 Los Angeles Fugitives Convicted of $18 Million PPP Loan Fraud Caught

Posted by John Rogers | Mar 09, 2022

Three individuals from a Los Angeles-based fraud ring who went on the run after being convicted of stealing more than $18 million in COVID relief loans were captured in Montenegro.

Richard Ayvazyan and Marietta Terabelian went missing last year. The two were convicted at trial but were granted pretrial release prior to their sentencing hearing.

Co-defendant Tamara Dadyan, a real estate broker, was sentenced to almost 11 years in federal prison. She apparently disappeared and was due to turn herself in last month.

All three defendants were convicted in their role in obtaining a PPP loan fraud scheme. They submitted nearly 150 fraudulent loan applications under which they obtained more than $18 million in Paycheck Protection and Economic Injury Disaster Loan program funds.

While the three were captured, Montenegro does not have an extradition treaty with the United States. The Department of Justice is working with the Montenegro government to turn the three into U.S. custody.

If you have been charged with a federal offense, then contact us to schedule a free consultation with a federal criminal defense attorney.

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