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Scam and money laundering puts former Wells Fargo manager in jail

Joe Mont | August 22, 2017

A California man was sentenced to prison on Aug. 21 for what the Department of Justice says was his role as the mastermind of a $1.66 million mass mailing scam aimed at trademark holders. The former manager of a Wells Fargo branch in Glendale, California, and his associate were also sentenced to prison today for their roles in laundering the scam’s proceeds.

Artashes Darbinyan, 37, of Glendale, was sentenced to 96 months in prison and was ordered to pay $1,557,979 in restitution.  Orbel Hakobyan, 42, of Glendale, was sentenced to 24 months in prison and was ordered to pay $1,218,024 in restitution.  Albert Yagubyan, 37, of Burbank, California, was sentenced to 18 months in prison and was ordered to pay $1,048,069 in restitution. The sentences were issued by U.S. District Court Judge Stephen V. Wilson.

In December 2016, Darbinyan pleaded guilty to one count of mail... To get the full story, subscribe now.