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Montrose man arrested, accused of defrauding investors via adult entertainment scam – Daily News

LOS ANGELES – A man from Montrose pleaded not guilty on Monday to a federal charge of defrauding investors over $ 1 million through an adult entertainment website scam.

Patrick Khalafian, 51, was arrested Friday on a single count federal grand jury indictment accusing him of wire fraud, according to the US Department of Justice. After entering his plea, a trial date of December 15 was set and he was sentenced to $ 50,000 bail.

If found guilty, Khalafian could face up to 20 years in federal prison, prosecutors said.

The indictment alleges that, from November 2009 to October 2016, Khalafian solicited investments for companies – including 168 Entertainment LLC, Empire Entertainment Group Inc. and EEG LLC – that allegedly developed and operated entertainment websites for adults.

Khalafian reportedly said that victims’ investments would be used for business operations, including software and platform development for the offered websites, paying servers, hiring employees and buying advertising. He also promised that the victims’ investments would be repaid by a certain date, according to the indictment filed in federal court in Los Angeles.

Instead, Khalafian reportedly used the funds of the victimized investors for gambling, luxury purchases and to reimburse other investors. Khalafian allegedly lied about the status of adult entertainment sites and eventually stopped responding to victims, disconnected his phone number and changed his email address.

In July 2015, Khalafian received $ 1 million in ill-gotten gains transferred from a victim’s bank account in Canada to a bank account he controlled in Woodland Hills, according to the indictment. Prosecutors estimate that this amount includes around half of the money Khalafian allegedly collected through the scheme.

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