Boston Globe (05/14/13) Jarret Bencks
Charles Toomajian, a former Malden, MA, mayoral aide and city solicitor, could face seven years in prison after he pleaded guilty on May 13 to charges stemming from a money laundering scheme with ties to organized crime.
According to the indictments, Toomajian served as an intermediary for Charles Davis, who worked for staffing company Randstad Professionals in Wakefield, where he had access to the corporate checkbook. To pay off his gambling debts, Davis wrote company checks, which were deposited into an account at Toomajian’s private law practice. In all, Toomajian’s law practice account received 47 checks totaling $659,525 from Randstad between 2006 and 2009.
Toomajian was one of 31 people charged in what investigators called the “Rossetti Criminal Organization,” which was connected to heroin and cocaine trafficking, marijuana distribution, loan sharking, extortion, embezzlement, and gambling. The money connected to Toomajian’s account is about one-third of the total $1.86 million that prosecutors say Davis embezzled from Randstad.
Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.