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'OFFSHORE' FRACAS HAUNTS PRIME MINISTER
http://asbarez.com/111070/%E2%80%98offshore-fracas%E2%80%99-haunts-prime-minister/
Wednesday, July 3rd, 2013
Prime Minister Tigran Sargsyan, the center of attention in a
developing fraud case.
COMPILED BY ROUBEN KRIKOURIAN
YEREVAN-The Prosecutor-General of Armenia, Aghvan Hovsepian, has asked
his visiting Greek Cypriot counterpart Clerides on Tuesday to help
Armenian law-enforcement authorities investigate a high-profile fraud
case that has sparked corruption allegations against Prime Minister
Tigran Sagsyan, RFE/RL's Armenian service has reported.
The case stems from the alleged misappropriation by Armenian
businessman Ashot Sukiasian of millions of dollars invested by another
entrepreneur, Paylak Hayrapetian. Sukiasian has been charged with
stealing the money through a company registered in Cyprus.
The company, Wlispera Holdings, Ltd., is formally co-owned in three
equal parts by Skiasian and by Prime Minister Tigran Sargsyan and
the Primate of the Ararat Diocese Archbishop Navasard Kchoyan. Prime
Minister Sagsyan claims that it was registered in his name without
his knowledge.
Asked by RFE/RL whether authorities in Cyprus, a world famous tax
haven, can register a company in the name of an individual who is
unaware of its existence Clerides said: "No."
"But I don't want to go into details until I look into the case and
documents that are needed for investigating those events," he added.
Sargsyan has been under fire since the publication of a report
by Hetq.am in late May linking him to the company called Wlispera
Holdings, to which monies have been wired in this alleged fraud case.
Hetq.amdisclosed a document purportedly certifying that he co-owns it
along with Archbishop Navasard Kchoyan and businessman Ashot Sukiasian.
According to the report by Hetq.am, $10.7 million worth of bank
loans intended for Sukasian's Dzoragyugh Production Cooperative were
funneled to three companies registered in Cyprus, including Wilspera
Holdings. The loans were acquired by placing $33 million of business
partner Paylak Hayrapetian's property as collateral. Hayrapetian made
the allegations public after it became apparent that his property
was going to be seized, as the $10.7 million loan went to the trio's
company abroad and met none of the bank's established requirements.
The loans were intended for the expansion of Sukasian's diamond
processing operation and were spurred by a government initiative to
transform Armenia into a world center for diamond processing.
Ashot Sukasian has since fled Armenia, with the Armenian law
enforcement attempting to track him down.
Sukasian and Archbishop Navasard Kchoyan have been in the news
before, including in one report that claims Archbishop Navasard
Kjoyan is Sukasian's godfather and that it was Sukiasyan who gifted
an expensive Bentley automobile to the clergyman. Sukasian and Prime
Minister Sargsyan have also been in the news in dealings with Sierra
Leone diamond industry representatives.
From: Emil Lazarian | Ararat NewsPress
http://asbarez.com/111070/%E2%80%98offshore-fracas%E2%80%99-haunts-prime-minister/
Wednesday, July 3rd, 2013
Prime Minister Tigran Sargsyan, the center of attention in a
developing fraud case.
COMPILED BY ROUBEN KRIKOURIAN
YEREVAN-The Prosecutor-General of Armenia, Aghvan Hovsepian, has asked
his visiting Greek Cypriot counterpart Clerides on Tuesday to help
Armenian law-enforcement authorities investigate a high-profile fraud
case that has sparked corruption allegations against Prime Minister
Tigran Sagsyan, RFE/RL's Armenian service has reported.
The case stems from the alleged misappropriation by Armenian
businessman Ashot Sukiasian of millions of dollars invested by another
entrepreneur, Paylak Hayrapetian. Sukiasian has been charged with
stealing the money through a company registered in Cyprus.
The company, Wlispera Holdings, Ltd., is formally co-owned in three
equal parts by Skiasian and by Prime Minister Tigran Sargsyan and
the Primate of the Ararat Diocese Archbishop Navasard Kchoyan. Prime
Minister Sagsyan claims that it was registered in his name without
his knowledge.
Asked by RFE/RL whether authorities in Cyprus, a world famous tax
haven, can register a company in the name of an individual who is
unaware of its existence Clerides said: "No."
"But I don't want to go into details until I look into the case and
documents that are needed for investigating those events," he added.
Sargsyan has been under fire since the publication of a report
by Hetq.am in late May linking him to the company called Wlispera
Holdings, to which monies have been wired in this alleged fraud case.
Hetq.amdisclosed a document purportedly certifying that he co-owns it
along with Archbishop Navasard Kchoyan and businessman Ashot Sukiasian.
According to the report by Hetq.am, $10.7 million worth of bank
loans intended for Sukasian's Dzoragyugh Production Cooperative were
funneled to three companies registered in Cyprus, including Wilspera
Holdings. The loans were acquired by placing $33 million of business
partner Paylak Hayrapetian's property as collateral. Hayrapetian made
the allegations public after it became apparent that his property
was going to be seized, as the $10.7 million loan went to the trio's
company abroad and met none of the bank's established requirements.
The loans were intended for the expansion of Sukasian's diamond
processing operation and were spurred by a government initiative to
transform Armenia into a world center for diamond processing.
Ashot Sukasian has since fled Armenia, with the Armenian law
enforcement attempting to track him down.
Sukasian and Archbishop Navasard Kchoyan have been in the news
before, including in one report that claims Archbishop Navasard
Kjoyan is Sukasian's godfather and that it was Sukiasyan who gifted
an expensive Bentley automobile to the clergyman. Sukasian and Prime
Minister Sargsyan have also been in the news in dealings with Sierra
Leone diamond industry representatives.
From: Emil Lazarian | Ararat NewsPress