$2.5M credit card fraud lands ex-owner of Corvallis Cannabis Club in federal prison

April 15, 2025

credit cards
Yegishe Nazaryan, 45, his wife, Mariam Gevorkova, and others opened well over 100 credit cards as part of the conspiracy, resulting in losses to banks in excess of $2.5 million. (AP Photo/John Raoux, File)AP

Yegishe Nazaryan, a former owner of the Corvallis Cannabis Club, was sentenced Tuesday to nearly three years in federal prison for his role in a bank fraud of more than $2.5 million that helped finance his state-licensed marijuana retail store and two illegal grows.

U.S. District Judge Michael J. McShane struggled to understand the motivation behind Nazaryan’s substantial fraud, noting he didn’t suffer from a drug addiction, mental health problems or chaotic childhood. Instead, he had been educated as a veterinarian in his home country of Armenia before immigrating to the United States.

If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.