RSS   Newsletter   Contact   Advertise with us
Post Online Media
Fraud   Aggravated identity and money laundering

Former Wells Fargo branch manager, two others charged with trademark scam

Wells FargoCharges against the former manager of a Wells Fargo Bank branch in Glendale, Ca., were unsealed, alleging that he was part of a scheme to launder the proceeds of a mass mailing scam targeting holders of U.S. trademarks.

Two other California men had previously been charged for perpetrating the scam and committing bank fraud in furtherance of the scam.

Article continues below

READ MORE Former Wells Fargo branch manager convicted of money laundering

Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, U.S. Attorney Eileen M. Decker of the Central District of California, Inspector in Charge Robert Wemyss of the U.S. Postal Inspection Service (USPIS) Los Angeles Division, Inspector in Charge Maria Kelokates of the USPIS Washington Division and Acting Special Agent in Charge Aimee E. Schabilion of the Internal Revenue Service-Criminal Investigation (IRS-CI) Los Angeles Field Office made the announcement.

Albert Yagubyan of Burbank, California; Artashes Darbinyan of Glendale; and Orbel Hakobyan, of Glendale, were charged with one count of conspiracy to commit money laundering in a second superseding indictment filed on July 14, 2016, in the Central District of California.

Yagubyan was also charged with four counts of concealment money laundering, one count of false bank entries and one count of witness tampering. Hakobyan was charged with three counts of concealment money laundering.

Darbinyan was charged with four counts of mail fraud, three counts of aggravated identity theft, five counts of concealment money laundering and one count of bank fraud.

According to the second superseding indictment, Yagubyan was the manager of a Wells Fargo branch in Glendale until October 2015.

The second superseding indictment alleges that from 2013 to 2015, Yagubyan allowed Darbinyan and Hakobyan to open bogus bank accounts at the Wells Fargo branch through which proceeds of the trademark scam could be laundered in exchange for a share of the proceeds.

Darbinyan and Hakobyan deposited checks from the victims of the mass mailing scam into bogus accounts at Wells Fargo, then Yagubyan allegedly instructed Wells Fargo employees to approve withdrawals by Darbinyan and Hakobyan from those accounts, even though the two men were not the signatories on the accounts, according to the second superseding indictment.

The indictment unsealed yesterday alleges that with Yagubyan’s assistance, Darbinyan and Hakobyan were able to launder $1.29 million into gold and cash through Wells Fargo.

Yagubyan is charged with a separate count of false bank entries for allegedly instructing a Wells Fargo employee to open an account for Darbinyan under the identity of another person.

The second superseding indictment also charges Yagubyan with witness tampering for instructing a Wells Fargo employee to withhold the truth from federal investigators.

Darbinyan was originally charged in October 2015 with 12 counts of mail fraud and four counts of aggravated identity theft.

A first superseding indictment filed in January 2016 charged Darbinyan and Hakobyan each with conspiracy to commit bank fraud and one count of bank fraud. Darbinyan was additionally charged with mail fraud, aggravated identity and money laundering counts.




What to read next





More inside POST
 
 

We use cookies to ensure that we give you the best experience on our website. Please allow cookies for fully-functioning website.

Allow Cookies Privacy Policy