CFO who embezzled millions from NJ company must pay $4.1M, go to prison
NEWARK — The former chief financial officer of a New Jersey business who embezzled millions of dollars is now headed to prison.
Federal prosecutors say Gomidas Garabed Hartounian received a three-year sentence Thursday. The 52-year-old Franklin Lakes man had pleaded guilty in April to wire fraud and tax evasion charges.
Hartounian was the CFO of an Englewood-based firm for seven years. He's also was the sole owner of MGB LLC, a company registered to his residence.
While with the Englewood firm, Hartounian fraudulently designated MGB as a vendor in the firm's accounting system without disclosing that he controlled it. He also had the Englewood firm issue checks to MGB for freight services it supposedly had provided.
Hartounian must pay $3.5 million in restitution to the Englewood company and $617,463 to the IRS.
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