GLENDALE-BASED ARMENIAN ANTOINE HAROUTUNIAN SENTENCED TO 87 MONTHS IN PRISON
Noyan Tapan
Aug 10, 2009
Glandale
Glendale-based Antoine Haroutunian on August 3 was sentenced to 87
months (over 7 years) in federal prison for running an investment scam
that bilked victims out of more than 14 million dollars. Haroutunian,
47, solicited clients through advertisements in the Los Angeles Times
and on the Internet. He promised 24% annual returns. A. Haroutunian
will have to pay 10.7 million dollars in restitution, Marmara daily
reported. Haroutunian pleaded guilty in three separate cases. He
also admitted to stealing 450,000 dollars from Bank of America (while
employed as a customer service representative) and filing a fraudulent
tax return that allowed him to get a refund of 183,345 dollars.