Federal law enforcement officials report they arrested Zhan Petrosyants, charging him with operating an extensive no-fault automobile insurance fraud scheme that involved submitting tens of millions of dollars in fraudulent medical claims and laundering the proceeds.
Petrosyants, 44, also known as “Johnny,” of Edgewater, New Jersey, is charged with conspiracy to commit healthcare fraud, conspiracy to commit wire fraud, aggravated identity theft, and conspiracy to commit money laundering.
The scheme was allegedly carried out between 2018 and 2023, causing insurance providers to be billed tens of millions of dollars in fraudulent no-fault medical claims.
The arrest of Petrosyants, who media reports describe as a restaurateur and close friend of former New York City Mayor Eric Adams, comes as lawmakers in Albany are currently embroiled in budget negotiations…
Cyber fraud uses technology as the primary weapon. It is highly scalable and can be conducted from anywhere in the world.
- Phishing/Smishing/Vishing: Using deceptive emails (phishing), text messages (smishing), or phone calls (vishing) to trick victims into clicking malicious links or revealing sensitive data.
- Business Email Compromise (BEC): A high-value scam where a criminal impersonates a CEO or high-level executive via a “spoofed” email address to trick a staff member into making an urgent, unauthorized wire transfer.