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Former Head Of Vardenis Branch Of Ardshininvestbank Accused Of Money

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  • Former Head Of Vardenis Branch Of Ardshininvestbank Accused Of Money

    FORMER HEAD OF VARDENIS BRANCH OF ARDSHININVESTBANK ACCUSED OF MONEY LAUNDERING

    ArmInfo
    2010-04-09 18:17:00

    ArmInfo. The former head of Vardenis branch of Ardshininvestbank CJSC
    is accused of money laundering. A relevant criminal case has been
    instituted, the press release of the Armenian Prosecutor General's
    Office says. It was found out on the basis of materials provided to
    Ardshininvestbank CJSC that according to a preliminary agreement with
    expert A.Hambardzumyan, private entrepreneur Kh.Shaboyan and director
    of Vasarat LLC, the former head of Vardenis branch of Ardshininvestbank
    A.Baghdasaryan issued fictitious loans. In particular, without the
    knowledge or consent of the branch borrowers, 396 credit agreements
    on purchase of household appliances worth 95 mln 788 thsd AMD and
    27616 USD were issued on their names. The specified amounts were
    by installments transferred to the accounts of Shaboyan and Vasarat
    LLC, afterwards were converted into cash. Shaboyan and Vasarat LLC,
    which are the clients of the branch, are engaged in sale of household
    appliances.

    On the basis of the specified data, a criminal case has been instituted
    under Article 179 Part 3 Item 1 of the Criminal Code of Armenia and
    under Article 190 Part 3 Item 1 of the Criminal Code of Armenia. The
    criminal case has been submitted for preliminary investigation
    of the Investigative Department of the National Security Service
    under the Armenian Government. Charges have been arraigned against
    A.Baghdasaryan, and arrest has been applied as a measure of restraint.

    The press service of Ardsininvestbank pointed out that the data on
    the activity of the former head of Vardenis branch, as well as on a
    similar case with the activity of the former head of Goris branch were
    found out by the bank itself and then presented to law-enforcers. "The
    relevant structures of the bank attentively follow and in case of the
    slightest suspicion study in detail any violations, which are strictly
    punished for. We appreciate the cooperation with the law-enforcement
    agencies in this matter",- said the press service of the bank.
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