{"id":29835,"date":"2017-03-13T15:40:09","date_gmt":"2017-03-13T22:40:09","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=29835"},"modified":"2017-03-13T15:40:09","modified_gmt":"2017-03-13T22:40:09","slug":"wells-fargo-branch-manager-convicted-of-trademark-scam","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=29835","title":{"rendered":"Wells Fargo Branch Manager Convicted of Trademark Scam"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>CALIFORNIA<\/strong><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-14523 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2015\/08\/Courtroom-300x160.jpg\" alt=\"\" width=\"300\" height=\"160\" \/>A former manager of a Wells Fargo branch in Glendale, California, was convicted on Friday of money laundering and false bank entry charges in connection with laundering the proceeds of a trademark scam.<\/p>\n<p style=\"text-align: center;\">After a four-day jury trial, Albert Yagubyan, 37, of Burbank, California, was convicted of one count of conspiracy to launder monetary instruments, four counts of concealment money laundering and one count of false bank entries.<\/p>\n<p style=\"text-align: center;\">Sentencing has been scheduled for May 22., 2017, before U.S. District Judge Stephen V. Wilson of the Central District of California, who presided over the trial.<\/p>\n<p style=\"text-align: center;\">According to the evidence presented at trial, from June 27, 2014 to Sept. 18, 2015, Yagubyan laundered over $1 million of proceeds from a mass-mailing scam run by co-conspirator Artashes Darbinyan, 37, of Glendale, California, who used companies that they called \u201cTrademark Compliance Center\u201d or TCC and \u201cTrademark Compliance Office\u201d or TCO. in order to make fraudulent offers to trademark applicants for registration and monitoring services.<\/p>\n<p style=\"text-align: center;\">These companies were used to make fraudulent offers to trademark applicants for registration and monitoring services, according to the evidence.<\/p>\n<p style=\"text-align: center;\">Yagubyan laundered the funds by instructing subordinates at the bank to open bogus bank accounts, into which proceeds of the TCC and TCO scam were deposited, and process fraudulent withdrawals, wire transfers and cashier\u2019s checks for co-conspirators Darbinyan and Orbel Hakobyan, 42, also of Glendale, the evidence showed.<\/p>\n<p style=\"text-align: center;\">The cashier\u2019s checks and wire transfers were made out to gold dealers.<\/p>\n<p style=\"text-align: center;\">The bank accounts were opened using the identities of individuals from Eastern Europe who were not in the United States at the time the accounts were opened.<\/p>\n<p style=\"text-align: center;\">The evidence at trial further showed that Darbinyan paid Yagubyan a percentage of the laundered proceeds. Yagubyan, in turn, made payments and promises of promotion to subordinates to induce them to conduct the fraudulent transactions.<\/p>\n<p style=\"text-align: center;\">When Wells Fargo\u2019s loss prevention office flagged the bogus accounts for closure, Yagubyan intervened to try and keep them open, the evidence showed.<\/p>\n<p style=\"text-align: center;\">Darbinyan and Hakobyan pleaded guilty in December 2016 to mail fraud and money laundering charges and are scheduled for sentencing on June 19.<\/p>\n<p style=\"text-align: center;\">The investigation has resulted in a total of five convictions.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CALIFORNIA A former manager of a Wells Fargo branch in Glendale, California, was convicted on Friday of money laundering and false bank entry charges in connection with laundering the proceeds of a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":21534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3],"tags":[1710],"class_list":["post-29835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-main-slider","category-u-s-department-of-justice","tag-wells-fargo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wells Fargo Branch Manager Convicted of Trademark Scam<\/title>\n<meta name=\"description\" content=\"A former manager of a Wells Fargo was convicted on Friday of money laundering and false bank entry charges in connection with laundering the proceeds of a trademark scam.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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