Richard Ayvazyan, 43, and his wife, Marietta Terabelian, 37, are considered fugitives, an FBI tweet said Tuesday.
The couple, Ayvazyan’s brother and a Glendale man were convicted in June of scheming to submit phony loan applications for federal Covid-19 business relief funds. They were scheduled to be sentenced on Oct. 4 and were potentially facing decades in federal prison.
(Corrected) Richard Ayvazyan, 43, & Marietta Terabelian, 37, were found guilty in $21 million bank/SBA fraud & are… https://t.co/1DeKqhT58M
— FBI Los Angeles (@FBILosAngeles) 1630466719000
Four other people had pleaded guilty to various charges in what prosecutors said was a scheme that involved using fake or stolen identities to apply for loans guaranteed by the Small Business Administration to help businesses struggling because of the Covid-19 pandemic.
The money obtained was used for down payments on luxury homes and to buy “gold coins, diamonds, jewelry, luxury watches, fine imported furnishings, designer handbags, clothing, and a Harley-Davidson motorcycle,” according to a June 29 announcement from the US attorney’s office.