Ex-Mayor's Friend, Two Others Charged in Insurance Fraud Scheme

Restaurateur Zhan Petrosyants and two businessmen with ties to Adams' former chief of staff accused of funneling millions through fake medical providers.

Apr. 3, 2026 at 9:53pm

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An extreme close-up photograph of a stack of medical bills and insurance documents, lit by a harsh, direct camera flash against a pitch-black background, conceptually illustrating the stark, gritty nature of the alleged insurance fraud scheme.A harsh, unforgiving spotlight exposes the tangled web of fraudulent medical billing at the heart of this insurance fraud case.NYC Today

Zhan Petrosyants, a restaurateur and close friend of former New York City Mayor Eric Adams, has been criminally charged alongside two other businessmen with ties to Adams' former chief of staff in an insurance fraud and money laundering scheme. Prosecutors allege the trio submitted fraudulent claims to insurers for medical services that were never provided or unnecessary, funneling millions through shell corporations.

Why it matters

The case highlights ongoing concerns about insurance fraud schemes targeting programs designed to help car crash victims, as well as the potential for abuse of political connections. It also raises questions about the oversight of medical billing and the role of law firms in facilitating such alleged fraud.

The details

According to prosecutors, Petrosyants, Vladislav Stoyanovsky, and Dmitriy Khavko are accused of submitting fraudulent claims to insurance providers and funneling the money through shell companies, including Sunstone Service and Blue Tech Supplies, which are not legitimate medical providers. The funds were then allegedly transferred to a jewelry business in the Diamond District and other accounts held by the trio, with the assistance of an unnamed New York law firm.

  • On Wednesday, Petrosyants was indicted on insurance fraud and money laundering charges in the Southern District of New York.
  • On Thursday, prosecutors filed a superseding indictment also criminally charging Stoyanovsky and Khavko, who were previously sued by GEICO in 2024 for a similar alleged insurance fraud scheme.

The players

Zhan Petrosyants

A restaurateur who owned high-end spots frequented by former Mayor Eric Adams, and has now been criminally charged in an insurance fraud and money laundering scheme.

Vladislav Stoyanovsky

A businessman with close ties to former Adams chief of staff Frank Carone, who was previously sued by GEICO for allegedly running a similar insurance fraud scheme.

Dmitriy Khavko

A businessman with close ties to former Adams chief of staff Frank Carone, who was previously sued by GEICO for allegedly running a similar insurance fraud scheme.

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What’s next

The three defendants have all pleaded not guilty to the charges. Their bail conditions include home detention, GPS monitoring, and travel restrictions.

The takeaway

This case highlights ongoing concerns about insurance fraud schemes targeting programs designed to help car crash victims, as well as the potential for abuse of political connections. It also raises questions about the oversight of medical billing and the role of law firms in facilitating such alleged fraud.