A Montgomery County business broker is accused of defrauding 36 victims out of $819,000 over about the last two years.
56-year-old Robert Krikorian of West Conshohocken is charged with theft, passing bad checks and other offenses. He is president of his own company, Bala Business Services of Bala Cynwyd, which also operates under the name of “Krikorian Associates.” His clients hired him to help them buy and sell businesses. Court documents say he took deposits from them, in some cases for businesses that were not for sale, and promised to place their checks in escrow accounts for refunds if their deals fell through. Instead he cashed them at a Philadelphia check-cashing agency, put the cash in his business checking account, and used the money to pay his mortgage, utility bills and car payments. The Montgomery County District Attorney’s office has frozen any future activity on his accounts.