"Montco Madoff" Pleads Guilty to 39 Felonies

Bala Cynwyd businessman Robert Krikorian, accused of bilking 39 prospective small-business owners out of $870,500, pleaded guilty to 39 counts of theft Wednesday in Montgomery County court in Norristown.

Each count of theft by failure to make proper disposition of funds is a third-class felony, which by Pennsylvania's sentencing guidelines calls for three and a half to seven years in prison.

Sentencing by Judge Joseph A. Smyth has not been scheduled, said Assistant District Attorney John F. Walko. By the sentencing guidelines, Krikorian could get 136 1/2 to 273 years in prison, but Smyth will retain discretion. The defendant remains incarcerated in lieu of $500,000 bail.

Krikorian, 56, is from West Conshohocken. His company Krikorian Associates, at Bala and City avenues, purportedly helps customers buy or sell businesses, and clients all over the Northeast whose opportunities did not work out claimed he improperly withheld deposits.

Krikorian was seemingly set to plead guilty Jan. 14 before asking for a delay. about his appearance in court that day.