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Indictment Returned In HOA Fraud Scandal

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Massoud Aaron Yashouafar (courtesy Nevada AG Office)

Massoud Aaron Yashouafar (courtesy Nevada AG Office)

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LAS VEGAS (AP) — A Beverly Hills, Calif., businessman faces felony embezzlement and theft charges accusing him of siphoning more than $1 million out of a Las Vegas-area homeowners association.

Attorney General Catherine Cortez Masto said Monday that 50-year-old Massoud Aaron Yashouafar is due Jan. 4 in Clark County District Court on a six-count criminal indictment handed up Friday in Las Vegas.

He could face decades in prison if convicted.

Yashouafar’s lawyer, David Chesnoff, says his client will plead not guilty and answer the allegations at trial.

Masto says that as treasurer of the Paradise Spa Home Owners Association board, Yashouafar funneled insurance checks for two fires at the complex to his own accounts.

The AG says condo owners were forced to find other places to live.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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