TRENTON, N.J. – Gomidas Garabed Hartounian, 52, of Franklin Lakes, New Jersey, pleaded guilty to embezzling millions of dollars from a North Jersey business.
Hartounian, the former chief financial officer of a Bergen County business, admitted to embezzling millions of dollars from the company and evading taxes, U.S. Attorney Paul J. Fishman announced.
According to documents filed in this case and statements made in court, from April 2007 through April 2014, Hartounian fraudulently designated MGB LLC, a company registered to his residence, as a vendor in the company’s accounting system without disclosing that he controlled MGB.
He directed the company’s employees to issue checks to MGB for freight services that MGB supposedly provided, and when asked for the MGB invoices, he claimed that he was maintaining them in his office.
Hartounian also had checks issued directly from the company’s bank accounts to pay for his personal expenses, including real estate taxes to the Borough of Franklin Lakes for $6,562 in August 2011.
The former CFO also admitted that he filed a false federal tax return, Form 1040, for the calendar year 2012 in which he knowingly did not report $1.29 million in income that he received as the sole owner of MGB.
Hartounian pleaded guilty to one count of wire fraud and one count of tax evasion. The wire fraud count carries a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gain or loss resulting from the crime.
The tax evasion count carries a maximum potential penalty of five years in prison and a $250,000 fine, or twice the gain or loss resulting from the crime. Sentencing is scheduled for Aug. 16, 2016.
U.S. Attorney Fishman credited special agents of the FBI and IRS-Criminal Investigation with the investigation leading to today’s guilty plea.
The government is represented by Assistant U.S. Attorney Shana W. Chen of the U.S. Attorney’s Office Economic Crimes Unit in Newark.
This case was brought in coordination with President Barack Obama’s Financial Fraud Enforcement Task Force.
Related Federal Cases
- Gomidas Garabed Hartounian, Wire Fraud and Tax Evasion, New Jersey 2014 · Florida
- Miye Chon, Bank Embezzlement, New Jersey 2015 · Iowa
- Assane Faye, Embezzlement and Mail Fraud, New Jersey 2024 · Pennsylvania
- Richard Vogel, Overtime Pay Embezzlement, New Jersey 2016 · Pennsylvania
- Letitia James, Environmental Grant Embezzlement, New York 2023 · Minnesota
Key Facts
- State: New Jersey
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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