Former Deputy Chairman of Armenian SRC charged with large-scale financial fraud
YEREVAN, May 11. /ARKA/. A former deputy head of Armenia’s State Revenue Committee (SRC) Tigran Barseghyan has been charged with financial fraud, Prosecutor General's Office said.
Barseghyan, who served in that capacity in 2009-2014 is said to have facilitated a deal in favor of the family members of Gagik Khachatryan with the breach of law. Khachatryan served at that time as head of SRC.
Barseghyan is charged on two counts. Particularly, according to the investigation, he helped Khachatryan's family members to acquire the shares of Hydroapparat OJSC for 32.3 million drams, way below the market price. The company was in state ownership and had tax debts of about 79.4mln drams.
The buyer was the Mondo di Mobily company founded by Khachatryan's nephews. A formal contest was announced to sell the shares. One of the conditions was that the winner would have to invest 5mln euro (equivalent of 2.6bln Armenian drams) in the company. However, Barseghyan actually helped Mondo di Mobily avoid investment obligation. As a result,34.3 million drams worth damage was caused to the government.
The second episode of the case concerns Bradway Investment Corp, founded by Khachatryan's relative and registered abroad. The company had lent $6 million to Levon Amirkhanyan LLC, whose assets were under pre-judgenment arrest because of overdue tax payments. Barseghyan, acting in the interests of the Khachatryan family company, ordered the head of the tax inspection of the Nor Nork administrative district of Yerevan V. S. to cancel the arrest of two real estate units of the aforementioned company in the center of Yerevan.
After that a company affiliated with Levon Amirkhanyan LLC mortgaged the properties in Ardshinbank and received a loan for $6 million, $3.95 million of which was given to Bradway Investment Corp.
Levon Amirkhanyan LLC has never fulfilled its overdue tax liabilities. Criminal cases were instituted against Tigran Barseghyan and the head of Nork District Tax Inspectorate on the grounds of abuse of power. ($1 - 386.4 AMD). -0-