Businessman Indicted for Defrauding Local Businesses

Hrond Arman Gasparian, who was the subject of an investigation last November, has been indicted on wire fraud charges following an FBI investigation in Indiana. Court documents show that the Fishers man defrauded multiple Indianapolis businesses, including an eastside church that is no stranger to tragedy.

Gasparian began working with Bells Chapel Church when he claimed to be a broker for a humanitarian fund that could possibly get the church a $3 million grant that would be used to rebuild the damages it suffered last year in a fire. He told the church that in order to get the grant, it would need to give him a “commitment fee” of $365,000 this money would be held until the grant was secured. The indictment alleges that the church did not receive the grant nor was it paid back for the money that it had given to Gasparian. This money was used for his own personal benefit, including his own investments and personal expenses.

The indictment also alleges that in a second wire fraud scheme, Gasparian defrauded a construction company in Fishers out of over $250,000. The victim company approached Gasparian and requested his help in obtaining financing for a construction project. The defendant instructed them to give him $200,000 that he would put in an escrow account to facilitate the deal. They also paid him $25,000 in what was described as a commission for his broker services. The construction company never received any of the financing for the construction project, and they never received any of the earnest money that was promised to be help in escrow.

According to the United States Attorney’s statement, Hrond Arman Gasparian could be sentenced to up to 20 years in a federal prison and face fines of up to $250,000 on each count of wire fraud if he is found guilty. He could also be ordered to serve multiple years of supervised release.

Posted in Wire Fraud |