It’s Court Day for Pure Weight Loss, Vahan Karian
(FranchisePick.Com) Pure Weight Loss & sole owner Vahan Karian go to Bankruptcy Court this morning. There will be a “Meeting of Creditors” at 10 am, March 14th at the William J. Green Federal Building in Philadelphia (600 Arch St., 2nd floor conference room, 10:00 am).
Check out this story on Pure Weight Loss and the lavish lifestyle of Vahan Karian from CT station NBC30
NBC 30 visited the address [of Pure Weight Loss HQ] in Horsham, Pa.
Nobody was there when NBC 30 visited, but there were signs that an auction company was about to sell the remaining furnishings.
Under state laws in Pennsylvania and Connecticut, a company’s top executives — not just the company — could be held responsible for failing to pay an employee.
Attorney General Richard Blumenthal said these employees deserve to have someone held accountable. “We’re going to hold accountable the individual, if there were violations logged, not just the company which may be without assets, but also individuals who have participated in any illegalities,” he said.
NBC 30 then drove to the home of Vahan Karian, the president and sole owner of Pure Weight Loss.
No one came to the door of the home, which is estimated at almost $1 million in value, with an enclosed pool connected to the back.
He and his wife allegedly also own three south Florida beach-front condominiums — One he bought for $2.3 million three years ago and another he bought just over a year ago for almost $2.6 million.
NBC 30 discovered financial filings that put Karian first in line to be paid in bankruptcy court, saying in part he loaned the company a quarter-million dollars in its final days.
In that paperwork, it appears he signed for both himself and the company.
That is all legal, but the timing is under investigation by the attorney general in Pennsylvania. Pure Weight Loss branches closed by Jan. 4. The transaction appears to have taken place three days later and a few days after that, Pure Weight Loss filed for bankruptcy. …
In Pennsylvania, both the labor department and the attorney general’s office are investigating the company and its executives….
NBC 30 repeatedly tried to reach Vahan Karian and his attorneys. The calls have not been returned.
The state of Pennsylvania has logged more than 1,800 complaints against Pure Weight Loss.
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POSTED IN: LA WEIGHT LOSS, PURE WEIGHT LOSS
1 opinion for It’s Court Day for Pure Weight Loss, Vahan Karian
Julie
Apr 29, 2008 at 8:13 am
I was a member of LA Weight Loss and was very successful, I also purchased additional time with them. They had a promotion going on at that time and they sold me an additional $160.00 plan which I never got to use do to the reason I had to take a medical leave of absent. I have several medical issues and I was not able to drive to the center for weigh-ins. Like our contact stated they were suppose to call and check with you and I never received a call. When I was able to go down to the store…. I find they are closed for good. I would love to receive my money back for the services I did not get.
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