- Associated Press - Thursday, December 15, 2016

PHOENIX (AP) - An Arizona woman who once ran a California-based charity organization has pleaded guilty in a fraud case.

Federal prosecutors say Farzaneh Akhavi, of Gilbert, had a change of plea hearing Wednesday and pleaded guilty to bank fraud and transactional money laundering.

She’s scheduled to be sentenced on March 15.

Akhavi was indicted in August 2014 on 82 counts involving bank fraud, wire fraud, aggravated identity theft and money laundering.

She was owner and president of the Cyrus Society, which had its charitable classification revoked by the Internal Revenue Service in 2011.

Prosecutors say Akhavi befriended two people in 2008 and fraudulently obtained a $211,000 mortgage and a $37,000 car loan in one of the victim’s names.

She allegedly took more than $1 million from the other victim under false pretenses.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide