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GALVIN ACCUSES MAN OF RIPPING OFF ARMENIAN-AMERICAN INVESTORS.
The Patriot Ledger
http://www.patriotledger.com/business/x1510863720/Galvin-accuses-man-of-ripping-off-Armenian-American-investors
Aug 1, 2011
BOSTON - Secretary of State William Galvin has filed a complaint
against a West Boylston man, alleging that he defrauded three investors
of nearly $800,000 by selling them stakes in real estate ventures in
Leicester and Sutton and then using their money to pay for trips to
the Foxwoods casino in Connecticut and the French Riviera.
Galvin said Edward Kooyomjian Sr. targeted investors who had ties
with the Armenian-American community in central Massachusetts in an
apparent case of affinity fraud. Galvin also accuses Kooyomjian of
selling unregistered securities and acting as an unregistered agent.
"Not only did these investors lose their money on what they thought
to be an investment, but they were betrayed by someone they had every
reason to trust," Galvin said.
Worcester Probate Court has has ruled that Kooyomjian used investors'
money for gambling, and ordered him to repay $381,200, but he is
presently in default on that judgment. He had been sued by the daughter
of a widow whose husband had been a close friend of Kooyomjian's.
The Patriot Ledger
http://www.patriotledger.com/business/x1510863720/Galvin-accuses-man-of-ripping-off-Armenian-American-investors
Aug 1, 2011
BOSTON - Secretary of State William Galvin has filed a complaint
against a West Boylston man, alleging that he defrauded three investors
of nearly $800,000 by selling them stakes in real estate ventures in
Leicester and Sutton and then using their money to pay for trips to
the Foxwoods casino in Connecticut and the French Riviera.
Galvin said Edward Kooyomjian Sr. targeted investors who had ties
with the Armenian-American community in central Massachusetts in an
apparent case of affinity fraud. Galvin also accuses Kooyomjian of
selling unregistered securities and acting as an unregistered agent.
"Not only did these investors lose their money on what they thought
to be an investment, but they were betrayed by someone they had every
reason to trust," Galvin said.
Worcester Probate Court has has ruled that Kooyomjian used investors'
money for gambling, and ordered him to repay $381,200, but he is
presently in default on that judgment. He had been sued by the daughter
of a widow whose husband had been a close friend of Kooyomjian's.