PHOENIX — An Arizona woman who once ran a charity organization has been
indicted on charges of bank fraud, wire fraud, aggravated identity theft and
Federal prosecutors say 55-year-old Farzaneh Akhavi, of Gilbert, pleaded not
guilty to all 82 counts Monday. Her trial is scheduled for Oct. 7.
Akhavi was owner and president of the California-based Cyrus Society, which had
its charitable classification revoked by the Internal Revenue Service in 2011.
Prosecutors say Akhavi befriended an unidentified brother and sister in 2008
and entered into a business partnership.
They say Ahkavi 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 and used money from both to buy Arizona land.