Chicago Exec Gouged Masks, Faces Jail

Skokie, IL – Krikor Topouzian, the owner of Concord Health Supply, isn’t just a businessman; he’s a parasite. Federal prosecutors secured a guilty verdict against Topouzian today, proving he systematically ripped off desperate citizens during the height of the COVID-19 pandemic. Topouzian hoarded nearly 80,000 N-95 masks and then slapped inflated price tags on them, turning a public health crisis into a personal profit scheme.

The feds say Topouzian acquired the masks for an average of $5.08 apiece in March and April of 2020, when hospitals were begging for supplies and regular folks were terrified. Instead of doing the right thing, he saw an opportunity. He then peddled those same masks for as much as $19.95 each – a markup of over 360%. That’s not business; it’s highway robbery, masked as entrepreneurship.

This wasn’t some victimless crime. Topouzian exploited a moment of national vulnerability, preying on fear and need. He didn’t just inflate prices; he actively profited from the suffering of others. Evidence presented at trial showed Topouzian wasn’t shy about his greed. Reports indicate he even bragged about his earnings and tried to bury negative feedback with fake online reviews.

The Defense Production Act, invoked to ensure critical supplies reached those who needed them most, became a punchline to Topouzian’s twisted logic. The masks were designated as “scarce materials” – meaning they were vital to public health – but Topouzian treated them like lottery tickets. He ignored warnings from friends, customers, and even threats of being reported to the FBI, pushing forward with his price gouging scheme.

Acting U.S. Attorney for the Northern District of Illinois and the Special Agent-in-Charge of the FBI Chicago field office made it clear: exploiting a pandemic for personal gain will not be tolerated. The investigation was aided by the DOJ’s COVID-19 Hoarding and Price Gouging Task Force, a unit formed to specifically target these predatory practices. Topouzian now faces up to a year in federal prison when sentenced on October 10th.

Topouzian’s conviction sends a message, though whether it’s enough to deter other vultures remains to be seen. Grimy Times will continue to track this case and report on the sentencing. If you have information about fraud, hoarding, or price gouging, report it to the authorities. Don’t let these predators profit from fear.