PHILADELPHIA, PA — Zaven Yeghiazaryan, 44, of Newtown, Pennsylvania, pleaded guilty to 13 federal charges on Tuesday, including conspiracy, health care fraud, wire fraud, and money laundering. The plea, entered before U.S. District Judge Gerald J. Pappert, exposes Yeghiazaryan to a maximum sentence of 230 years in prison, plus significant financial penalties. Sentencing is set for September 4, 2025.
Yeghiazaryan admitted to orchestrating a series of fraudulent schemes between January 2020 and April 2024, targeting government programs and pandemic relief initiatives. Among his fraudulent activities was the exploitation of the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program and the Pandemic Unemployment Assistance (PUA) Program, both designed to provide relief during the Covid-19 pandemic. Additionally, his schemes defrauded the Medicaid program, impacting critical healthcare services.
Federal prosecutors revealed that Yeghiazaryan used shell companies and false identities in his operations, siphoning funds from targeted programs. His actions resulted in substantial financial losses, with restitution totals amounting to $334,905. Forfeiture and additional fines could also be imposed.
The case was investigated by multiple federal and state agencies, including the Social Security Administration’s Office of the Inspector General, the Internal Revenue Service’s Criminal Investigation unit, and Homeland Security Investigations, among others. Assistant U.S. Attorneys Mary E. Crawley and Megan Curran are prosecuting the case.
Yeghiazaryan’s guilty plea underscores continuous efforts by law enforcement to hold individuals accountable for exploiting public resources. By targeting pandemic relief programs designed to aid businesses and individuals in crisis, Yeghiazaryan’s schemes further emphasize the need for robust safeguards to prevent similar offenses in the future.
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