Business

US attorney: Watertown man is charged with $1.1m theft from Iron Mountain

A Watertown man was charged in federal court with allegations that he stole more than $1.1 million from his former employer, Iron Mountain Inc., the office of US Attorney Carmen M. Ortiz said Tuesday.

John J. Palandjian of Watertown was charged with 10 counts of wire fraud, Ortiz’s office said.

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Palandjian, 34, was formerly a sourcing manager for Iron Mountain, a Boston-based company that helps its customers manage their business records. According to the allegations, Palandjian used a company credit card to make unauthorized purchases and take cash advances that totaled about $1.1 million; he then took actions to hide the unauthorized charges and to ensure that the bills were paid.

An attempt to reach Palandjian was unsuccessful.

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If convicted, Palandjian faces up to 20 years in prison, a $250,000 fine, and forfeiture of the proceeds of his crimes, Ortiz’s office said.

In a statement, Iron Mountain said: “Mr. Palandjian has been charged with stealing more than $1 million from our company and for committing federal crimes in the process. These are serious charges and not representative of the high character employees who work here at Iron Mountain. For these reasons, we terminated Mr. Palandjian’s employment with us on June 30, 2011, following an investigation into these charges.”

Chris Reidy can be reached at reidy@globe.com.
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