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DIASPORA BUSINESSMAN BLAMES FRAUD ON PRESIDENT'S BROTHER
asbarez
Wednesday, January 25th, 2012
President's brother, Levon Sarkisian YEREVAN (A1-plus)-Armenian
businessman Edmond Khudyan demanded compensation of $7 million in
court, as much as he invested in Armenia before his involuntary
bankruptcy.
The businessman said he has been swindled and cheated out of millions
of dollars while engaging in commercial enterprises in Armenia and
blames the financial fraud on Serzh Sarkisian's brother, Levon.
At the Criminal Court of Appeal Edmond Khudyan Wednesday demanded
that those involved in the financial fraud be exposed and punished.
In 2005, the Diaspora businessmen founded Arin Capital & Investment LLC
and developed a high-rise building at 33 Mashots. Before finishing the
construction, some of the flats had been sold to 17 Diaspora Armenians.
His partner and contractor was Vladislav Mangasryan, unofficial owner
of VERM, VMG, KAMAR companies. In 2007, Edmond Khudyan had appointed
Eduard Yesayan, as director of the company. Eduard was his long
time friend.
In 2010, Vladislav Mangasryan, and EdikYesayan mutually decided to
sell the flats and pocket the money without Khudyan's knowledge. Later
they claimed that it was done to save the company from bankruptcy,
for everybody's benefit.
Since then E. Khudyan placed several lawsuits against the parties
to return stolen properties and to bring them to justice but those
efforts have been unsuccessful.
asbarez
Wednesday, January 25th, 2012
President's brother, Levon Sarkisian YEREVAN (A1-plus)-Armenian
businessman Edmond Khudyan demanded compensation of $7 million in
court, as much as he invested in Armenia before his involuntary
bankruptcy.
The businessman said he has been swindled and cheated out of millions
of dollars while engaging in commercial enterprises in Armenia and
blames the financial fraud on Serzh Sarkisian's brother, Levon.
At the Criminal Court of Appeal Edmond Khudyan Wednesday demanded
that those involved in the financial fraud be exposed and punished.
In 2005, the Diaspora businessmen founded Arin Capital & Investment LLC
and developed a high-rise building at 33 Mashots. Before finishing the
construction, some of the flats had been sold to 17 Diaspora Armenians.
His partner and contractor was Vladislav Mangasryan, unofficial owner
of VERM, VMG, KAMAR companies. In 2007, Edmond Khudyan had appointed
Eduard Yesayan, as director of the company. Eduard was his long
time friend.
In 2010, Vladislav Mangasryan, and EdikYesayan mutually decided to
sell the flats and pocket the money without Khudyan's knowledge. Later
they claimed that it was done to save the company from bankruptcy,
for everybody's benefit.
Since then E. Khudyan placed several lawsuits against the parties
to return stolen properties and to bring them to justice but those
efforts have been unsuccessful.