Former Executives With Conejo Valley Based Company Agree To Plead Guilty To Embezzling Millions
Two former executives of a Conejo Valley-based company have agreed to plead guilty to participating in a fraud scheme, embezzling millions of dollars.
The U.S. Attorney’s Office said the defendants agreed to plead guilty to federal charges of conspiracy to commit wire fraud in connection to stealing $5 million from iPayment, a payment processor based in Westlake Village.
Nasir Shakouri, 40, of Westlake Village, who was the company’s senior vice president of sales and marketing, and Robert Torino, 63, of Massachusetts, who was the chief operating officer, will be arraigned on April 14t
As part of the criminal conspiracy, Shakouri and Torino are accused of creating fictitious sales offices to unlawfully divert to themselves and others residuals which had been purchased by iPayment as a part of a residual buy out. Authorities said they also stole from iPayment through a kickback scheme involving two vendors that provided information technology services to the company.
Shakouri and Torino each face up to five years in federal prison.