Who is Grigor Demirchyan? The truth about how he defrauded his client.
Grigor Demirchyan is a fraudster.
That’s what a California jury decided in 2018 when the co-founder of the company Grigor Demirchyan worked for claimed his business was hijacked.
The jury later awarded the co-founder approximately $52 million, noting that Grigor Demirchyan, and his accountant wife, breached their fiduciary duties to the co-founder. They also noted that the couple defrauded him. The co-founder was awarded $50.83 million in damages and an additional $1.2 million in damages for a promissory note Grigor Demirchyan and his wife breached.
The story how this all unfolded is remarkable, and it’s a lesson to those who take advantage of others around them. The co-founder of the company alleged that he had formed his business, and later hired Grigor Demirchyan and his wife as accountants and financial advisers. They later convinced him to make Grigor Demirchyan the sole owner of the business. Grigor Demirchyan then took control of the business and defrauded his client. Grigor Demirchyan had claimed he was an expert in U.S. business law and corporate structure, which is why his client followed his advice to list Grigor Demirchyan as the sole owner for “business reasons.” This was essentially how Grigor Demirchyan defrauded his client, by using tactics like these. In other words, scamming the public and taking advantage of people for personal gain.
Grigor Demirchyan Fraud
The California jury only deliberated for four hours followed the 14-day trial, which suggests at how there wasn’t much to question. The jury awarded the co-founder of the company all the money he was seeking, ultimately proving, Grigor Demirchyan defrauded his client. In some sense, justice was served.
It’s without question, especially after the ruling from the jury, that Grigor Demirchyan abused his position as a corporate accountant. In breaching his fiduciary duties and defrauding his client, he has been singled out as a fraudster.
2023 Grigor Demirchyan Update
