On May 25, 2018 the application of NA Deputy, member of Board of Trustees of Youth Foundation Karen Avagyan was received in the RA investigative Committee informing that on April 6 the executive director of the RA Youth Foundation signed a loan agreement for 326.000.000 AMD with himself in the name of the mentioned foundation.

On the base of the foundation materials were prepared in Yerevan Investigative Department of the RA Investigative Committee and based on their results a criminal case was initiated on swindling money in particularly large amount according to the Point 1 of the Part 3 of the Article 179 of RA Criminal Code.

Necessary investigatory and other procedural measures are taken to provide the comprehensive investigation of circumstances of the case, to find the frame of those having committed the alleged crime and to give appropriate criminal legal assessment to their actions.

Note; Everyone charged with alleged crime offence shall be presumed innocent until proved guilty according to law.