Zaven Yeghiazaryan, a 44-year-old resident of Newtown, Pennsylvania, has pleaded guilty to multiple charges including conspiracy, health care fraud, wire fraud, and money laundering. The plea was entered before Judge Gerald J. Pappert in Philadelphia.
The charges stem from Yeghiazaryan's involvement in fraudulent activities targeting government programs through shell companies and false identities between January 2020 and April 2024. Among the targeted programs were the Small Business Administration’s Economic Injury Disaster Loan program and the Pandemic Unemployment Assistance Program, both established during the Covid-19 pandemic. Additionally, Yeghiazaryan admitted to defrauding the Medicaid program.
Following his guilty pleas to 13 counts of an indictment, Yeghiazaryan faces a potential sentence of up to 230 years in prison. He could also receive a three-year supervised release period and be fined $3,250,000. Restitution is set at $334,905 with additional forfeiture penalties. Sentencing is scheduled for September 4, 2025.
The investigation was conducted by several agencies including the Social Security Administration – Office of the Inspector General, Internal Revenue Service – Criminal Investigation, United States Postal Inspection Service, Homeland Security Investigations, Department of Health and Human Services – Office of Inspector General, United States Department of Labor, United States Department of Transportation – Office of the Inspector General and State Department. The case is being prosecuted by Assistant United States Attorneys Mary E. Crawley and Special Assistant United States Attorney Megan Curran.
