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ARMENIAN INVESTOR'S LETTER TO US AMBASSADOR TO ARMENIA
http://hetq.am/eng/news/19886/armenian-investor's-letter-to-us-ambassador-to-armenia.html
11:48, October 26, 2012
The Honourable Mr. John A. Heffern, US Ambassador to Armenia
Honourable Ambassador Heffern,
My name is Edmond Khudyan, a US citizen and the president of Arin
Capital & Investment Corp., a real estate investment-development firm
in Glendale CA. I am also the founder of Arin Capital & Investment
LLC, a real estate development co. in Yerevan, Armenia, development
project known as Mashtotc 33. I am writing to You hopping that I can
bring to your attention and get your diplomatic mission's appropriate
involvement in an almost $8,500,000 (up to date) embezzlement case
which I filed in November of 2010 with RA State Revenue Committee
(PEK). This organized set of criminal activity in my company has
resulted in missing of millions of dollars, and defrauding of the RA
tax agency by 2 shareholders of the company.
A few months later, in March of 2011, I filed several complaints
with the RA President and other judicial bodies of the government
regarding the embezzlement of $4,500,000 from the company. A copy of
that complaint was also sent to the former U.S. Ambassador, Honourable
Marie Yovanovitch, and it can be viewed on the web, at Hetq Online. My
complaint described all the illegal activities of Vladislav Mangasaryan
and Ghevond Ghaloumyan, 2 shareholders/partners in Arin Capital &
Investment LLC, and company director Edward Yesayan. Based on a set
of preliminary findings, a criminal case #83159711 was initiated on
May 3, 2011.
Since May 3, 2011, another $4,000,000 worth of assets were swindled
from my company and this was done with the direct consent of officials
from the Prosecutor's Office and the State Revenue Commission. In
the fall of 2011, it became clear to me that the same group, through
fabricated judicial acts, wanted to seize an additional $2,000,000
worth of assets (properties) and I immediately notified the appropriate
representatives of agencies dealing with criminal case so a freeze
could be placed on the property (equivalent of a Lis Pendens, in the
states), until a judicial conclusion is reached in this case. However,
those authorities failed to take such measures, baselessly arguing
that there was no victim or accused, and thus, they could not place
a freeze.
In May of 2012, to avoid a similar situation, we met with assistant
General Prosecutor Mr. Mnacakan Sargsyan and Department Director
Grigor Hovhannisyan where we obtained their verbal agreement that
they would proceed with the "freeze", if we officially file such a
request. However, after filing the request, again, no measures were
taken and additional $2,000,000 worth of real estate was seized. No
words could express our frustration. This underhanded act - or better
said "lack of action" - once again proved complete and intentional
failure of the abovementioned RA governmental agencies and officials,
putting corruption "front and center" as the core reason behind
their actions.
As the evidence of the crime was presented to State Revenue Committee
Lead Inspector Tigran Harutyunyan, prosecutor Lernik Hovhannisyan,
department director Grigor Hovhannisyan, assistant to the prosecutor
general Mnatsakan Sargsyan and prosecutor general Aghvan Hovespyan,
all of whom failed to recognize me as a victim, and as such prevented
me from defending my interests. My civil rights have been violated.
Under the sponsorship of the abovementioned officials, the criminals
were permitted to continue seize properties. Yes, the crime is being
deliberately buried and justice is not being served. Criminals go
unpunished and continue to conduct sales of the units in the building,
with no regard for the company's rightful owner's interests. This is
"corruption reigning supreme" in Armenia.
We are dealing with a well organized criminal group which knows how
to commit crime and steal, operating thought high ranking officials,
and their family members, who have the power to influence and obtain
favourable court decisions and avoid prosecution. The Prosecutor's
office and State Revenue Committee officials are well aware of this
group's identity, their criminal profile, their criminal activities
causing the fraudulent unpaid taxes and the crime committed, but they
are unwilling to do anything about it. The prosecutor's office has
sheltered this group and allowed them to seize the few last properties
belonging to Diaspora Armenians.
The U.S. Embassy staff members have periodically been present at
my trials. They too have certain details at their disposal. I would
kindly ask that you instruct your staff members to follow the conduct
of RA legal agencies and the manner of their operations. Please
also be informed that steps are being taken to relocate this trial
to the United States and file a legal suit against the Republic of
Armenia according to the ICSID Convention (International Centre for
Settlement of Investment Disputes), UNICITIRAL arbitration rules, the
USA/RA Investment Agreement, and/or the "RA Law on Compensation for
Losses Incurred by Foreign Investors". Considering that the Armenian
judicial system does not seem to be working, and I have been left
powerless to defend myself and my interests, I hope to have U.S.
Embassy's active follow-up and oversight of my ongoing judicial
struggle against all parties involved, including the RA agencies and
officials. A court trial about this case is scheduled for Monday,
Oct 29th at 11am and I would appreciate if Embassy's staff members
can be present.
Information, articles and press conferences about this case can be
viewed at arincapital.com
Respectfully,
Edmond Khudyan
USA
http://hetq.am/eng/news/19886/armenian-investor's-letter-to-us-ambassador-to-armenia.html
11:48, October 26, 2012
The Honourable Mr. John A. Heffern, US Ambassador to Armenia
Honourable Ambassador Heffern,
My name is Edmond Khudyan, a US citizen and the president of Arin
Capital & Investment Corp., a real estate investment-development firm
in Glendale CA. I am also the founder of Arin Capital & Investment
LLC, a real estate development co. in Yerevan, Armenia, development
project known as Mashtotc 33. I am writing to You hopping that I can
bring to your attention and get your diplomatic mission's appropriate
involvement in an almost $8,500,000 (up to date) embezzlement case
which I filed in November of 2010 with RA State Revenue Committee
(PEK). This organized set of criminal activity in my company has
resulted in missing of millions of dollars, and defrauding of the RA
tax agency by 2 shareholders of the company.
A few months later, in March of 2011, I filed several complaints
with the RA President and other judicial bodies of the government
regarding the embezzlement of $4,500,000 from the company. A copy of
that complaint was also sent to the former U.S. Ambassador, Honourable
Marie Yovanovitch, and it can be viewed on the web, at Hetq Online. My
complaint described all the illegal activities of Vladislav Mangasaryan
and Ghevond Ghaloumyan, 2 shareholders/partners in Arin Capital &
Investment LLC, and company director Edward Yesayan. Based on a set
of preliminary findings, a criminal case #83159711 was initiated on
May 3, 2011.
Since May 3, 2011, another $4,000,000 worth of assets were swindled
from my company and this was done with the direct consent of officials
from the Prosecutor's Office and the State Revenue Commission. In
the fall of 2011, it became clear to me that the same group, through
fabricated judicial acts, wanted to seize an additional $2,000,000
worth of assets (properties) and I immediately notified the appropriate
representatives of agencies dealing with criminal case so a freeze
could be placed on the property (equivalent of a Lis Pendens, in the
states), until a judicial conclusion is reached in this case. However,
those authorities failed to take such measures, baselessly arguing
that there was no victim or accused, and thus, they could not place
a freeze.
In May of 2012, to avoid a similar situation, we met with assistant
General Prosecutor Mr. Mnacakan Sargsyan and Department Director
Grigor Hovhannisyan where we obtained their verbal agreement that
they would proceed with the "freeze", if we officially file such a
request. However, after filing the request, again, no measures were
taken and additional $2,000,000 worth of real estate was seized. No
words could express our frustration. This underhanded act - or better
said "lack of action" - once again proved complete and intentional
failure of the abovementioned RA governmental agencies and officials,
putting corruption "front and center" as the core reason behind
their actions.
As the evidence of the crime was presented to State Revenue Committee
Lead Inspector Tigran Harutyunyan, prosecutor Lernik Hovhannisyan,
department director Grigor Hovhannisyan, assistant to the prosecutor
general Mnatsakan Sargsyan and prosecutor general Aghvan Hovespyan,
all of whom failed to recognize me as a victim, and as such prevented
me from defending my interests. My civil rights have been violated.
Under the sponsorship of the abovementioned officials, the criminals
were permitted to continue seize properties. Yes, the crime is being
deliberately buried and justice is not being served. Criminals go
unpunished and continue to conduct sales of the units in the building,
with no regard for the company's rightful owner's interests. This is
"corruption reigning supreme" in Armenia.
We are dealing with a well organized criminal group which knows how
to commit crime and steal, operating thought high ranking officials,
and their family members, who have the power to influence and obtain
favourable court decisions and avoid prosecution. The Prosecutor's
office and State Revenue Committee officials are well aware of this
group's identity, their criminal profile, their criminal activities
causing the fraudulent unpaid taxes and the crime committed, but they
are unwilling to do anything about it. The prosecutor's office has
sheltered this group and allowed them to seize the few last properties
belonging to Diaspora Armenians.
The U.S. Embassy staff members have periodically been present at
my trials. They too have certain details at their disposal. I would
kindly ask that you instruct your staff members to follow the conduct
of RA legal agencies and the manner of their operations. Please
also be informed that steps are being taken to relocate this trial
to the United States and file a legal suit against the Republic of
Armenia according to the ICSID Convention (International Centre for
Settlement of Investment Disputes), UNICITIRAL arbitration rules, the
USA/RA Investment Agreement, and/or the "RA Law on Compensation for
Losses Incurred by Foreign Investors". Considering that the Armenian
judicial system does not seem to be working, and I have been left
powerless to defend myself and my interests, I hope to have U.S.
Embassy's active follow-up and oversight of my ongoing judicial
struggle against all parties involved, including the RA agencies and
officials. A court trial about this case is scheduled for Monday,
Oct 29th at 11am and I would appreciate if Embassy's staff members
can be present.
Information, articles and press conferences about this case can be
viewed at arincapital.com
Respectfully,
Edmond Khudyan
USA