A Glendale man pleaded guilty Monday to federal money laundering and tax charges stemming from a scheme to launder the proceeds of health care fraud through five sham corporations.
Khachatour Hakobyan, 46, entered his plea to one count each of conspiring to commit money laundering and filing a false income tax return, which together carry a possible maximum sentence of 23 years in federal prison, according to Assistant U.S. Attorney Cathy Ostiller.
He has also agreed to pay restitution of more than $600,000 to the Internal Revenue Service, the prosecutor said.
Hakobyan acknowledged that he helped conceal more than $1 million from a health care fraud scheme using phony companies he and co-defendants owned and operated.
U.S. District Judge Margaret M. Morrow set Hakobyan’s sentencing for Nov. 16.
Co-defendant Aram Aramyan, 59, previously pleaded guilty to the same charges and is scheduled to be sentenced Nov. 2.
— City News Service