A trial date has been set in the case of 76-year-old Edward Kooyomjian,
Sr., of West Boylston, Massachusetts, who has been accused of luring at
least two investors into a real estate investment scam that took in almost
$200,000. Kooyomjian was the president of several corporations that dealt
in real estate development, and it is believed that he ran the alleged
scam through those entities. Those companies have since been involuntarily
dissolved, according to an attorney in the case.
Prosecutors believe that Kooyomjian took in money from investors with promises
that the cash would go into developing real estate for commercial purposes
through his companies, which included Grandview Shoppes of Leister, Inc.
and Domain Enterprises, Inc. Unfortunately, it is believed that the investors’
cash was used up before construction even began, and there are further
allegations that Kooyomjian used investors’ cash for his own personal expenses.
In addition to the charges of securities fraud and larceny, Kooyomjian
also faces tax-related charges for allegedly failing to file business
excise tax returns for his companies while they were in operation. He
is free on his own recognizance and scheduled to appear in court on December 10.