Grand Jury indicts Karen Gasparyan, Mohinder Grover on fraud, theft, other charges

DENVER - Two people are accused of defrauding numerous Coloradans, pawn brokers and jewelry dealers by stealing and reselling luxury goods, according to the Colorado Attorney General's Office.

A state grand jury has indicted Karen Gasparyan, 30, and Mohinder Grover, 63, of Aurora for violating the Colorado Organized Crime Control Act and engaging in a pattern of racketeering.

"The indictment claims Gasparyan stole an estimated $425,000 in jewelry, diamonds, and watches from local jewelry dealers, which he then conspired with Grover to sell through Grover’s business, Gold Exchange, LLC.," prosecutors said. "The Gold Exchange is a franchise and only Grover’s Aurora store is implicated in the indictment."

In one instance, prosecutors said Gasparyan allegedly stole a diamond valued in excess of $50,000 by representing that he could sell the stone for a profit.

"Gasparyan and Grover kept all the proceeds from that sale and failed to pay the original owner any money for the diamond," prosecutors said.

Prosecutors said Gasparyan is also accused of stealing several high-end watches, a car and writing $150,000 in checks on a closed bank account.

Gasparyan and Grover have been arrested. Grover has posted bond, prosecutors said.

As part of another count, Gasparyan is accused of pretending to be the owner of a car dealership in Commerce City and took a woman's Acura, which she intended to sell as part of the purchase of a new Toyota. The woman ultimately suffered a $10,000 loss and never got her car.

In another instance, Kim Kimball, a Denver resident, told 7NEWS that he and his wife met Gasparyan after he helped her to purchase a new vehicle at auction.  

"He was a smooth talker," Kimball told 7NEWS Reporter Jaclyn Allen. "My wife had an insurance check from a car accident. She gave him the cash because he wanted cash."

According to the indictment, Gasparyan convinced Kimball that he could give him a job at the car dealership. As a result, both individuals were convinced to obtain credit for items such as Rolex watches, jewelry, and a Lexus, according to Kimball and the indictment.

Kimball never received a job and neither victim ever saw their items again.

They lost more than $75,000 and ultimately filed bankruptcy.

"I hope he goes to jail for a long time," said Kimball.

"The range of crimes committed was elaborate and vast, yet through close coordination between law enforcement agencies, we’ve stopped Gasparyan and Grover from victimizing more Coloradans," Attorney General John Suthers said in a news release.

Print this article Back to Top