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DIRECTOR OF VANADZOR COMPANY SUSPECTED IN EMBEZZLEMENT OF OVER $400 THOUSAND
ARKA
Sep 6, 2011
YEREVAN, September 6. /ARKA/. Director of Avtogenmash cjsc in Vanadzor
(Lori region of Armenia) is suspected in the embezzlement of over
$400 thousand, press-service of General Prosecutor's Office informs.
Based on the material prepared with the purpose of protection of
state interests in the prosecutor's office of Lori region it was
detected that director of the company who was also its trust manager,
in 2002-2004, violating the law "On privatization of state property"
and without liquidation commission alienated a number of buildings
by lower than market prices.
Particularly, engineering-laboratory building, land plots, buildings,
production units, storages, administrative buildings, boiler house,
auxiliary buildings and buildings of utility services were privatized.
"In the result, 150 million drams (about $406 thousand) was embezzled",
states the press-release.
A criminal case according to the clause 1, part 3 of article 179
(appropriation or embezzlement of large amounts) was instituted.
Materials of criminal case was sent to the investigation department
of police of Lori region for further investigation.
ARKA
Sep 6, 2011
YEREVAN, September 6. /ARKA/. Director of Avtogenmash cjsc in Vanadzor
(Lori region of Armenia) is suspected in the embezzlement of over
$400 thousand, press-service of General Prosecutor's Office informs.
Based on the material prepared with the purpose of protection of
state interests in the prosecutor's office of Lori region it was
detected that director of the company who was also its trust manager,
in 2002-2004, violating the law "On privatization of state property"
and without liquidation commission alienated a number of buildings
by lower than market prices.
Particularly, engineering-laboratory building, land plots, buildings,
production units, storages, administrative buildings, boiler house,
auxiliary buildings and buildings of utility services were privatized.
"In the result, 150 million drams (about $406 thousand) was embezzled",
states the press-release.
A criminal case according to the clause 1, part 3 of article 179
(appropriation or embezzlement of large amounts) was instituted.
Materials of criminal case was sent to the investigation department
of police of Lori region for further investigation.