Home pageHome page
Address of the Investigative Committee
46/5 Mamikonyants, Yerevan+374(11) 880-151
HOW TO GET

Charge Pressed against Director of RA Youth Foundation for Laundering and Squandering Money in Particularly Large Amount

25.01.2019 13:58

In the framework of the criminal case investigated in the Division of Investigation of Grave Crimes of Yerevan Investigative Department of the RA Investigative Committee charge was pressed against the executive director of Youth Foundation of Armenia for laundering and squandering money in particularly large amount.

It was earlier informed that 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 application materials were prepared in Yerevan Investigative Department of the RA Investigative Committee and on the base of their results a criminal case was initiated on squandering money in particularly large amount according to the Point 1 of the Part 3 of the Article 179 of RA Criminal Code.

Through preliminary investigation it was found out that holding the position of executive director of RA Youth Foundation from 2010, he swindled money in particularly large amount by squandering from the foundation from April 29, 2013 to May 22, 2018.

With the purpose of concealing and distorting the criminal origin of money in particularly large amount swindled apparently, its real essence he legitimized it by transferring part by part to accounts of several interrelated companies and physical persons, as well as by several transactions.

Thus, with the purpose of concealing the criminal origin of the sum of 325.600.000 AMD, swindled from the foundation from April 29, 2013 to May 22, 2018 the executive director legitimized the money in particularly large amount – 226.464.209 AMD by applying criminal mechanisms and schemes, by transferring from one account to another. Particularly, at the same period the executive director of the foundation transferred the mentioned money to the LLC account registered in his mother’s name.   

Then from 15.05.2013 to 29.12.2016 539.332 USD was transferred from mother’s account to the account of one of the banks operating in Great Britain after which from 14.05.2013 to 30.12.2016 490.583 USD was transferred from the woman’s account to his Armenian account and was used for his personal needs by cashing and bank transfer.

On January 24, 2019 charge was pressed against the executive director of the RA Youth Foundation according to the Point 1 of the Part 3 of the Article 179 and the Point 1 of the Part 3 of the Article 190 of RA Criminal Code.

The investigator submitted a motion to court to use detention as a pretrial measure against him.

Preliminary investigation is ongoing.

Addition; on the same day at 22:00 the court sufficed the investigator’s motion to use detention as a pretrial measure against the executive director of RA Youth Foundation.

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

 

 


Comments
Your email address is confidential