California man gets 37-month sentence for impersonating dentists, defrauding banks

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A Glendale, Calif., resident was sentenced to 37 months in federal prison for impersonating dentists and swindling banks out of $2.1 million, according to a news release from the Department of Justice.

Ararat Yesayan, 39, pleaded guilty in May 2019 to one count of conspiracy to commit bank fraud. Investigators claim he used the identity of 11 dentists to file fraudulent claims to banks that offer lines of credit to the dentists.

Between October 2010 and March 2014, Mr. Yesayan and his co-conspirators stole the personal information of dentists, including their dental license numbers. With the information, they opened a sham dental office in the names of the dentists.

After opening the phony dental office, Mr. Yesayan requested a change of address with the Dental Board of California so he would receive mail intended for the impersonated dentists. He then applied for lines of credit under the identities of the dentists and submitted fraudulent claims to insurers for fake dental patients and treatments never performed.

In addition to his prison sentence, Mr. Yesayan was ordered to pay just over $2 million in restitution.

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