Damage from fraudulence with former Armenian high-ranking officials' company amounts to $2.5 million
06.12.2019,
11:12
Investigators have received evidence of the illegalities committed by Armenia's high-ranking office, the press office of the police department reports. In particular, the officials, abusing their office powers, organized the privatization of the Radio CJSC in Gegharkunik province.
YEREVAN, December 6. /ARKA/. Investigators have received evidence of the illegalities committed by Armenia's high-ranking office, the press office of the police department reports. In particular, the officials, abusing their office powers, organized the privatization of the Radio CJSC in Gegharkunik province.
According to the investigators' information, 100% of the company's stocks were estimated at AMD 1,172,417,000 in 2010. Officials, abusing their office powers, assessed amortization of the property at AMD 411,832,400 (70%).
It has become known from the investigation that the company's assets alone were gauged at AMD 753,789,000, and amortization at 30%. Later, the false data on Radio CJSC were presented to the Armenian government, and the company was sold to Europress Group, registered on the British Islands, in accordance with the government's decision dated from December 10. The company was sold at the price that was 50% lower than its estimated market price.
These illegal actions inflicted a damage amounting to AMD 1,160,000,000 (around $2.5 million) to the state.
It has also become known that the company was resold in for USD 250,000, 2013 to International Radio Networks CJSC, whose shareholders are persons connected to high-ranking Armenian officials.
According to the investigators' information, 100% of the company's stocks were estimated at AMD 1,172,417,000 in 2010. Officials, abusing their office powers, assessed amortization of the property at AMD 411,832,400 (70%).
It has become known from the investigation that the company's assets alone were gauged at AMD 753,789,000, and amortization at 30%. Later, the false data on Radio CJSC were presented to the Armenian government, and the company was sold to Europress Group, registered on the British Islands, in accordance with the government's decision dated from December 10. The company was sold at the price that was 50% lower than its estimated market price.
These illegal actions inflicted a damage amounting to AMD 1,160,000,000 (around $2.5 million) to the state.
It has also become known that the company was resold in for USD 250,000, 2013 to International Radio Networks CJSC, whose shareholders are persons connected to high-ranking Armenian officials.
A criminal case was opened and sent to the investigative Committee. -0---
