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LA Times publishes new exposé on Attorney Brian S. Kabateck who has been involved in NY Life/AXA ‘Blood Money’ Scandal

Posted on November. 15. 2023

BY APPO K. JABARIAN
Executive Publisher / Managing Editor
USA Armenian Life Magazine (English-language print edition)
Hye Kiank Armenian Weekly (Armenian-language print edition)
USA Armenian Life E-Newsletter (Electronic Distribution — e-blast)
USA Armenian Life FACEBOOK | www.armenianlife.com
TV Host, USA Armenian Life TV on AMGA

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Last week, The Los Angeles Times published a new exposé on Attorney Brian S. Kabateck who has been involved in the NY Life/AXA ‘Blood Money’ scandal.

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The Nov. 6 article, co-authored by Nobel Prize-winning investigative journalist Matt Hamilton and his colleague Dakota Smith, raised eyebrows in the American Armenian community. The article shed light on why Kabateck, Esq. “has been accused of misleading the judge in order to secure the coveted court-appointed role.” (See article here: http://www.armenianlife.com/2023/11/15/la-times-prominent-l-a-attorney-accused-of-misleading-judge-in-dwp-scandal/.)

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In March 2022, The Los Angeles Times’ Nobel Prize-winning investigative journalists Harriet Ryan, and Matt Hamilton jointly authored a series of articles exposing massive misappropriations and embezzlement of New York Life/AXA Armenian Genocide victims’ life insurance settlement funds of $37.5 million. Many American Armenians now call it “NY Life/AXA $37.5 million ‘Blood Money’ Scandal.”

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In April, 2022, four influential California lawmakers called for an investigation into a $17.5-million class-action settlement on behalf of Armenian genocide victims that a Times investigation found had been marred by fraud, diverted funds, numerous irregularities and an unusually high rate of rejection of class action applications. Many of the genuine and qualified applicants were rejected.

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U.S. Reps. Jackie Speier (D-Hillsborough) and Anna Eshoo (D-Menlo Park), the only Armenian Americans in Congress, along with Rep. Adam Schiff (D-Burbank) and state Sen. Anthony Portantino (D-La Cañada Flintridge), chair of the Senate Appropriations Committee, said they were disgusted by misconduct The Times detailed in a report in March, 2022.

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While phony ‘applicants’ received millions of dollars. The class action attorneys handling the cases against the New York Life Insurance Company and the French AXA insurance were Mark Geragos, Brian S. Kabateck and the late Vartkes Yeghiayan. The combined settlement funds amounted to $37.5 million.

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The massive embezzlement and misappropriations amounting to millions of dollars, occurred right under the watchful eyes of class action attorneys Mark Geragos, Brian S. Kabateck and the late Vartkes Yeghiayan.

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Later on, attorney Mark Geragos’ sued the L.A. Times for ‘libel.’

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Attorneys Brian S. Kabateck and Shant Karnikian joined others in defending Geragos’ lawsuit through signed declarations in support of Geragos’ demands.

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However, in August, a California state judge threw out Geragos’ libel suit against the Los Angeles Times over its coverage of a $37 million settlement for Armenian Genocide victims that prompted a State Bar probe, noting in an order made public that the reporters never accuse Geragos of misappropriation, theft or embezzlement.”

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In her article titled, “LA Times Beats Geragos’ Libel Suit Over Genocide Payouts,” Gina Kim of Law360.com wrote: “On Aug. 3, Los Angeles Superior Court Judge Wendy Chang issued a written order that appeared to largely stick with her tentative ruling that she orally issued from the bench during a hearing in June that granted the Los Angeles Times’ special motion to strike Geragos’ complaint under the anti-SLAPP statute, which takes aim at lawsuits that target free speech, often referred to as strategic litigation against public participation.”

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Attorney Berj Boyajian who has been a longtime friend and ally of Mark Geragos, Brian S. Kabateck and Western Diocese Primate Archbishop Hovnan Derderian, was entrusted to assist in the administration of the settlement funds. Boyajian was caught red-handed in committing bank fraud by cashing phony checks amounting to hundreds of thousands of dollars.

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Boyajian was disbarred a few years ago.

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The banker, Avo Avedis Markarian who facilitated the cashing of the fraudulent checks for Berj Boyajian has been a longtime ally and crony of Western Diocese Primate Archbishop Hovnan Derderian. Markarian has been serving in various important positions within the Armenian Church led by Archbishop Derderian.  Many Western Diocese insiders and whistleblowers insist that “no church member can be appointed or ‘elected’ to any kind of important position without first becoming a crony of Archbishop Derderian.”

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They point out that ever since “the arrival of Archbishop Derderian at the Western Diocese of the Armenian Church on North America in 2003, massive by-laws violations, corruption, nepotism and cronyism have been rampant.”

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Another key player in the embezzlement of the NY Life/AXA ‘Blood Money,’ has been Parsegh Kartalian, the administrator of the NY Life/AXA Armenian Genocide victims settlement funds. Kartalian also has been a longtime friend and ally of Mark Geragos, Brian S. Kabateck and Western Diocese Primate Archbishop Hovnan Derderian. He has served in various high positions at the Western Diocese. Many members of the Armenian Church and/or the community point out that during his active years, Kartalian acted as “Archbishop Derderian’s right-hand man; a sort of ‘yes-man.’”

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Many American Armenians are troubled by the fact Kabateck and Geragos’ alma mater, Loyola Law School received millions of dollars from the NY Life/AXA Armenian Genocide victims’ settlement funds. They underline that Judge Snyder had approved the funds to be distributed to Armenian charitable organizations. Loyola Law School has not been an Armenian charitable organization.

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Loyola Law School, a downtown L.A. institution with few ties to France but close ties to the attorneys involved. Geragos and Kabateck were alumni who appeared frequently at campus events and whose firms hired students as clerks and graduates as associates. Kabateck has served for years as the chair of the law school’s board of directors and is a trustee of its parent university, Loyola Marymount. Children of Geragos and Yeghiayan also earned law degrees there. The law school said it received about $1.4 million from the New York Life and AXA settlements, more than any other single institution. Yet in lists submitted to the judge, the attorneys disclosed $400,000 in donations to Loyola, reported the LA Times.

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A number of American Armenians are asking, “is Attorney Shank Karnikian one of the proteges of his current boss attorney Kabateck who may have facilitated his admittance in Loyola through a pay-for-play scheme?

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In any case, the number of American Armenians who highly appreciate and say “THANK YOU, LOS ANGELES TIMES; THANK YOU, INVESTIGATIVE JOURNALISTS HARRIET RYAN, AND MATT HAMILTON ” is very high.