Bank wins private jet battle against absentee former executive

By Grace Dixon (July 1, 2022, 6:11 p.m. EDT) – A federal judge in Massachusetts has granted $4.3 million in default judgments against a former real estate executive, his wife and an entity that the executive has created to transfer ownership of a plane he is accused of buying with stolen company funds.

U.S. District Judge Timothy S. Hillman on Thursday approved a trio of default judgments against former real estate firm SBK Holdings chairman Edgar Sargsyan, Elina Sargsyan and 999 Private Jet LLC in favor of UniBank after the couple and their corporation have failed to respond to allegations that they defaulted on refinance payments secured by an allegedly ill-gotten 1997 Gulfstream.

Although 999 Private Jet…

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