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The "Hero" Of Sales Of Flats Fraud Apprehended

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  • The "Hero" Of Sales Of Flats Fraud Apprehended

    THE "HERO" OF SALES OF FLATS FRAUD APPREHENDED

    http://www.yerkirmedia.am/?act=news&lan=en&id=5643
    20:47 . 05/03

    One of organizers of frauds in sale of flats, which gave rise to a
    big noise and gave a cause to numerous complaints recently in Yerevan,
    was arrested this evening.

    The police apprehended director of "GapBnakShin" Ltd. and "Narek
    and Davit" company, 63 years old Gagik Papoyan. A criminal case was
    initiated against him before on a charge of major fraud. He was put
    on the wanted list by the central department of the police since
    February 9 of the current year.

    His case is mostly known to the population by the very dark
    transactions of selling one flat in the elite buildings under
    construction in Arami and Byuzandi streets to several people. The
    buyers cheated periodically have organized protest acts at different
    agencies.

    Our TV company had also covered the story for numerous times before.

    The "hero" of these transactions, according to preliminary data has
    embezzled more than 1mln USD-407, 413, 000 AMD.

    To note, many high officials, even military men, MPs are also among
    the cheated buyers.

    Other details will be reported tomorrow at yerkirmedia.am.

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