Watertown Man Charged with $1.1 Million Theft from Iron Mountain

BOSTON—A Watertown man was charged today in federal court with stealing over $1.1 million from his former employer, Iron Mountain, a public company headquartered in Massachusetts.

John J. Palandjian, 34, was charged in an information with 10 counts of wire fraud. A sourcing manager for Iron Mountain, Palandjian’s responsibilities included purchasing supplies, reviewing credit card statements, and requesting wire transfers for payment of credit card bills. The information alleges that from August 2010 to June 2011, Palandjian used a credit card, issued to Iron Mountain, to make unauthorized purchases and cash advances in excess of $1,148,000. Palandjian then altered the monthly credit card statements to hide his unauthorized charges and ensured that the bills were paid.

If convicted, Palandjian faces up to 20 years in prison, to be followed by three years of supervised release, a $250,000 fine and forfeiture of the proceeds of his crimes.

United States Attorney Carmen M. Ortiz; Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division; and Boston Police Commissioner Edward Davis made the announcement today. The case is being prosecuted by Assistant U.S. Attorney Kristina E. Barclay of Ortiz’s Economic Crimes Unit.

The details contained in the Information are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.