Created on Friday, 03 June 2011 10:47
A former Montgomery County business broker who admitted bilking nearly 40 victims out of about $870,000 over a two year period has been given three to seven years in state prison. 57-year-old Robert Krikorian (pictured here) of West Conshohocken pleaded guilty to theft. He was president of his own company, Bala Business Services of Bala Cynwyd, which also operated 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 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 money in his business checking account, and used it to pay his mortgage, utility bills and car payments.