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Publisher of Armenian magazine sentenced in tax fraud scheme

January 31, 2011 |  4:44 pm

The former owner of several Glendale-based Armenian language publications was sentenced today to 30 months in federal prison after pleading guilty to conspiring to defraud the IRS of $1 million.

Glendale resident Navasard Petrosyan, 61, was also sentenced in U.S. District Court to three years of probation, according to the IRS.

Authorities charged Petrosyan with one count each of conspiring to defraud the federal government and making a false statement. Petrosyan disguised more than $3 million in checks from medical provider clients as advertising expenditures, and then reimbursed them in cash for the same amounts, minus a fee, according to the IRS.

Read the full story here.

-- Jason Wells, Times Community News