March 30 (Bloomberg) — A former Bank of America Corp. customer service representative pleaded guilty to running a $14 million Ponzi scheme that promised investors 24 percent annual returns, the third criminal case he has admitted to.
Antoine David Haroutunian, 47, of Glendale, California, pleaded guilty to mail fraud at a hearing today in federal court in Los Angeles, U.S. Attorney Thomas O’Brien said in a statement. Haroutunian faces as long as 20 years in prison at his Aug. 3 sentencing, according to the statement.
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