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Former Motorcycle Shop Owner Armon Castillo Gevorkian of Santa Clarita,
California, who owned County Line Cycles in Simi Valley, pleaded guilty Thursday
to each of 49 felony counts alleging he stole more than $1 million from more
than 40 people.
Armon Castillo Gevorkian, 45, got people to invest in the purchase of motorcycles and motorcycle engines, telling them he could “quickly flip” the engines and sell them in Europe, Japan or China. Gevorkian told people he could get good deals on motorcycles at auctions. He showed people photographs of the motorcycles, but instead of buying them, he kept the money, says prosecutor Margaret Coyle. Gevorkian never sold any motorcycles or motorcycle engines and is charged with stealing more than $1 million from more than 40 victims, including four elderly people.
Coyle says one victim lost $400,000 and others lost amounts of $10,000 to $115,000. Other people paid to have their motorcycles sold on consignment but Gevorkian told them that the motorcycles had been stolen or the vehicle title didn’t clear and pocketed the money, He also pleaded guilty to insurance fraud and four counts of elder abuse.
He could face more than 15 years in prison when he is sentenced April 17. As part of the plea agreement, however, prosecutor Mickeye Coyle said Gevorkian can knock off a year from his sentence for each $100,000 he can pay as restitution to his victims. There will be a hearing Feb. 27 to determine how much money Gevorkian can pay before he is sentenced.
Armon Castillo Gevorkian, 45, got people to invest in the purchase of motorcycles and motorcycle engines, telling them he could “quickly flip” the engines and sell them in Europe, Japan or China. Gevorkian told people he could get good deals on motorcycles at auctions. He showed people photographs of the motorcycles, but instead of buying them, he kept the money, says prosecutor Margaret Coyle. Gevorkian never sold any motorcycles or motorcycle engines and is charged with stealing more than $1 million from more than 40 victims, including four elderly people.
Coyle says one victim lost $400,000 and others lost amounts of $10,000 to $115,000. Other people paid to have their motorcycles sold on consignment but Gevorkian told them that the motorcycles had been stolen or the vehicle title didn’t clear and pocketed the money, He also pleaded guilty to insurance fraud and four counts of elder abuse.
He could face more than 15 years in prison when he is sentenced April 17. As part of the plea agreement, however, prosecutor Mickeye Coyle said Gevorkian can knock off a year from his sentence for each $100,000 he can pay as restitution to his victims. There will be a hearing Feb. 27 to determine how much money Gevorkian can pay before he is sentenced.
