Watertown Man Charged with Stealing $1.1 million from Iron Mountain

John J. Palandjian is accused of using a company credit card to make more than $1 million in fraudulent payments.

A 34-year old Watertown man faces federal charges of stealing more than $1.1 million from Iron Mountain.

John J. Palandjian was charged with 10 counts of wire fraud stemming from his work as a sourcing manager for the Massachusetts-based company, according to a release sent out by United States Attorney Carmen Ortiz's office.

Palandjian's responsibilities at Iron Mountain included puchasing supplies, reviewing credit card statements and requesting wire transfers for payment of credit card bills, according to the release.

From August 2010 to June 2011, Palandjian allegedly used a credit card issued to the company to make unauthorized purchases and cash advances of more than $1,148,000, Ortiz's office said.

"Palandjian then altered the monthly credit card statements to hide his unauthorized charges and ensured that the bills were paid," the release reads."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."

The case will be prosecuted by Assistant U.S. Attorney Kristina E. Barclay of Ortiz’s Economic Crimes Unit.


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