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.