U.S. Attorney’s office in Massachusetts says former employee stole more than $1.1 million from storage firm.
The U.S. Attorney’s office has charged a former employee of Iron Mountain, headquartered in Boston, with stealing more than $1.1 million. The employee, John Palandjian, was charged with 10 counts of wire fraud. He faces up to 20 years in prison if convicted. The U.S. Attorney’s office says Palandjian also could face up to three years of supervised release, a $250,000 fine and forfeiture of the proceeds of his crimes.
According to a news release from the U.S. Attorney's Office, District of Massachuseets, Palandjian has agreed to plead guilty of the charges.
Prosecutors allege that from August 2010 to June 2011, Palandjian used a credit card issued to Iron Mountain to make unauthorized purchases and cash advances in excess of $1.1 million. Palandjian altered the monthly credit card statements to hide his unauthorized charges and ensure that the bills were paid, prosecutors said.
Palandjian was at one-time a sourcing manager for Iron Mountain. His duties included purchasing supplies, reviewing credit card statements and requesting wire transfers to pay credit card bills.
In a statement, Iron Mountain, which released Palandjian June 30, 2011, said the charges were “not representative of the high-character employees who work here at Iron Mountain.”
The statement continues, “We’re thankful to the Boston Police Department and to the Federal Bureau of Investigation for their investigative work. We also thank the U.S. attorney’s office for their attention to this matter, working for a quick conclusion and holding Palandjian accountable.”