The ​Armenian living in the US is accused of laundering $1.29 million

Former Wells Fargo branch manager helped two Glendale residents to launder money through the bank

Baku. 22 July. REPORT.AZ/ A former Wells Fargo branch manager from Burbank Albert Yagubyan was arrested for allegedly allowing two Glendale men to launder $1.29 million in fraud proceeds through the bank over the course of two years.

Report informs citing Los Angeles Times,Yagubyan, who managed a Wells Fargo branch reportedly allowed Artashes Darbinyan, 36, and Orbel Hakobyan, 41, to open bogus bank accounts to launder proceeds from a mass mailing scam targeting U.S. trademark holders.

36-year-old Yagubyan pleaded not guilty.

The trial will begin in September.

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