Fraud Friday – Final Fugitive of PPP & EIDL Fraud Ring Extradited from Montenegro

March 3, 2023

Delaney Sexton
Contributing Editor

Fraud Friday – Final Fugitive of PPP & EIDL Fraud Ring Extradited from Montenegro

After one year of being a fugitive, Tamara Dadyan was extradited by Montenegro and has been returned to the United States. In January 2022, she visited her lawyer’s office before reporting to prison, but she never appeared at the prison. Instead, she evaded her decade-long prison sentence. Dadyan arrived in Los Angeles this week and was expected to appear in the U.S. District Court in Los Angeles.

Early last year, she was found in Montenegro with Richard Ayvazyan and Marietta Terabelian, two other fugitives who were involved in the scheme. This pair was on the run for a year and a half before being discovered, and they have since been extradited to the United States.

According to court documents, Dadyan was involved in a fraud ring that sought more than $20 million in pandemic relief and submitted 150 fraudulent PPP and EIDL applications.

The fraud ring used dozens of fake, stolen, or synthetic identities when applying for the loans. Among the identities, some belonged to elderly or deceased people and foreign exchange students who visited the U.S. years ago. Dadyan and her co-conspirators submitted fictitious or fake tax documents and payroll records along with the fake identity documents.

With the fraudulent funds they obtained, the fraud ring purchased gold coins, diamonds, jewelry, luxury watches, designer handbags, cryptocurrency, securities, and a Harley-Davidson motorcycle. Also, the money supported down payments on three luxury California homes.

Previously, Tamara Dadyan pleaded guilty to one count of conspiracy to commit wire fraud and bank fraud, one count of conspiracy to commit money laundering, and one count of aggravated identity theft. She was sentenced to 10 years and 10 months in prison in December 2021.

Source:
DOJ Press Release

Read our previous reporting:
Fraud Friday – Three Fugitives in $18 Million COVID Loan Fraud Case Caught in Montenegro – 2/25/22
Fraud Friday – Fugitive Couple Extradited from Montenegro for $20 Million Fraud – 11/25/22