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Montco Man Charged With Swindling Dozens Of Investors

BALA CYNWYD, Pa. (CBS) — A man dubbed by prosecutors as the “Bernie Madoff of Montgomery County” is now charged with defrauding three dozen people out of more than $800,000.

Robert Krikorian, who operated Bala Business Services in Bala Cynwyd, was initially charged with ripping off four people who were using him as a broker to buy businesses.

After a November court hearing, more than 30 other alleged victims came forward, telling police they were also swindled by the 56-year-old West Conshohocken man.

Montgomery County district attorney Risa Ferman says Krikorian betrayed the trust of his clients and used their money for personal expenses.

“This is a man who had his own Ponzi scheme going on — he took money from one person potentially in an effort to pay off someone else, and eventually was just using the money for his own purposes,” she said.

Two of the alleged victims are veterans who saved money while they were serving our country, hoping to one day purchase their own business.

Krikorian faces numerous theft and related charges. Bail was set at $500,000 cash.

Reported by Brad Segall, KYW Newsradio 1060.


    If you are looking for a business to buy be very careful if you decide to use the business broker BENJAMIN ROSS GROUP. In my opinion deceit was used to sell me one of their businesses. BE VERY CAREFUL VERY.

  • Jersey Steve

    I bought a business from the Benjamin Ross Group in Southampton,Pa approx 3 yrs ago [SHAM] it did not last for 6 months.#’s altered-etc. Bought for $400,000.00 now driving a school bus.

  • Sam.P

    Beware the Benjamin Ross Group also has multiple lawsuits against it in the Bucks County Courts. Google it.

  • decieved

    You should also check out all of the lawsuits against the Benjamin Ross Group biz broker in will be amazed.

  • EaglesFan

    Rob was one of the best business brokers in the Greater Philadelphia Area and conducted good business for over 30years. With the economic downturn and the pressure to keep up with expenses I am certain he panicked , leading to poor decisions.

    The media always twists stories to catch the attention of the public. Looking back on it all, Rob is a loving, family man, who just made the wrong decisions.

    The ones that matter most in your life support you!

  • AK Patel

    He almost had me about 6 years ago.


    He got the bail money, but it is not his own. Just a BIG thief.

    • ZZBAR

      Ooooppps. He “has” the bail money…….

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