General NewsLegal proceedingsPandemicsU.S. News Illinois Businessman Found Guilty of Exploiting N95 Mask Shortage in Early Stages of Pandemic by Ethan Kim July 2, 2023 written by Ethan Kim July 2, 2023 0 comments Bookmark 36 An Illinois businessman has been found guilty of exploiting the high demand for N95 masks during the initial weeks of the COVID-19 pandemic. Krikor Topouzian, aged 62, from Winnetka, was convicted on Thursday after a bench trial held in federal court in Chicago, as reported by the Chicago Sun-Times. He could potentially face a prison sentence of up to one year when he is sentenced on October 10. According to prosecutors, Topouzian was the owner of a health supply company located in Skokie, Illinois. During March and April of 2020, he acquired approximately 80,000 N95 masks at a cost of $5 per mask, only to resell them for around $20 per mask. Prosecutors revealed that he openly boasted about earning up to $80,000 per day and making $1 million within a matter of weeks. These masks had been categorized as “scarce materials” under the Defense Production Act during the pandemic. In response to his conviction, one of Topouzian’s attorneys, Matt McQuaid, stated in an email to The Big Big News on Sunday that his client intends to appeal. Topouzian firmly believes he committed no wrongdoing and asserts that his customers overwhelmingly supported his efforts in providing the masks, as claimed by McQuaid. Table of Contents Frequently Asked Questions (FAQs) about price-gougingWhat was the businessman convicted of?What is the potential prison sentence for the businessman?What were the charges against the businessman?What was the profit made by the businessman from the sale of N95 masks?Will the businessman appeal his conviction?More about price-gouging Frequently Asked Questions (FAQs) about price-gouging What was the businessman convicted of? The businessman was convicted of price-gouging in connection with the sale of N95 masks during the early weeks of the COVID-19 pandemic. What is the potential prison sentence for the businessman? The businessman could face up to a year in prison when he is sentenced on October 10. What were the charges against the businessman? The charges against the businessman included purchasing N95 masks at a lower price and then selling them at a significantly higher price, taking advantage of the high demand during the pandemic. What was the profit made by the businessman from the sale of N95 masks? According to prosecutors, the businessman boasted about making as much as $80,000 per day and earning $1 million in a matter of weeks from the sale of N95 masks. Will the businessman appeal his conviction? Yes, the businessman plans to appeal his conviction, as he believes he did nothing wrong and claims to have received overwhelming support from his customers for providing the masks. More about price-gouging Chicago Sun-Times Defense Production Act The Big Big News ACLU – Illinois juvenile detention facility You Might Be Interested In After judge’s rebuke, Trump returns to court for 3rd day for fraud lawsuit trial Haitian Refugees Stranded in Shelters as Gang Violence Displaces Thousands Australia says its navy divers were likely injured by the Chinese navy’s ‘unsafe’ use of sonar High-speed rail line linking Las Vegas and Los Angeles area gets $3B Biden administration pledge Speaker McCarthy directs a House panel to open an impeachment inquiry into President Biden Heavy fighting rages near main Gaza hospital as Netanyahu dismisses calls for a cease-fire appealConvictionGeneral NewsIllinois businessmanLegal proceedingsN95 maskspandemicPandemicsprice gougingprison sentence Share 0 FacebookTwitterPinterestEmail Ethan Kim Follow Author Ethan Kim is a world news reporter who covers breaking news stories from around the globe. He has reported on everything from natural disasters to international conflicts, and he is dedicated to bringing his readers accurate and timely information. previous post NHL Free Agency Favors Short Contracts and Bonus-Incentive Agreements this Year next post Trump and DeSantis Engage Moms for Liberty, Indicating the Group’s Ascending GOP Influence You may also like Bookmark A woman who burned Wyoming’s only full-service abortion... December 28, 2023 Bookmark Argument over Christmas gifts turns deadly as 14-year-old... December 28, 2023 Bookmark Danny Masterson sent to state prison to serve... December 28, 2023 Bookmark Hong Kong man jailed for 6 years after... December 28, 2023 Bookmark AP concludes at least hundreds died in floods... December 28, 2023 Bookmark Live updates | Israeli forces raid a West... December 28, 2023 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
