Head of Parking City Service accused of stealing $1.6 million
30.04.2020,
17:20
Armenian law-enforcement authorities have accused the director of Parking City Service CJSC of stealing $1.6 million.
YEREVAN, April 30. /ARKA/. Armenian law-enforcement authorities have accused the director of Parking City Service CJSC of stealing $1.6 million. According to the Investigative Committee, the crime had been committed by the founder and director of the company by prior conspiracy and by using his official position through forge of documents.
The Investigative Committee said the company had been donated to the Yerevan Municipality in 2016 at the instruction of the third president after parliamentary discussions. The proposal was backed by then prime minister, the Investigative Committee said without disclosing any name.
According to the Investigative Committee, the owner of the company and its executive director inflated the cost of the company by forging a false loan agreement dated February 2013. According to the forged loan agreement, a company registered in Belize, committed to provide the borrower (Parking City Service) with a loan in the amount of almost $2 million at 21%, repayable before June 8, 2017. Later, the Yerevan Municipality had to borrow $3.3 million to repay the loan.
The director of the Park City Service company was charged with especially large-scale fraud and forgery committed by a group of persons by a preliminary conspiracy.
On April 29, 2020, a local court in Yerevan rejected the request of the law-enforcement bodies to place the director under arrest and ruled that he could stay at large in return for 70 million dram bail and a written pledge not to leave the place of residence pending investigation.
A suspect or accused of an alleged crime is presumed innocent until proven guilty according to a court order that enters into legal force in the manner established by the Code of Criminal Procedure of Armenia. --0--
The Investigative Committee said the company had been donated to the Yerevan Municipality in 2016 at the instruction of the third president after parliamentary discussions. The proposal was backed by then prime minister, the Investigative Committee said without disclosing any name.
According to the Investigative Committee, the owner of the company and its executive director inflated the cost of the company by forging a false loan agreement dated February 2013. According to the forged loan agreement, a company registered in Belize, committed to provide the borrower (Parking City Service) with a loan in the amount of almost $2 million at 21%, repayable before June 8, 2017. Later, the Yerevan Municipality had to borrow $3.3 million to repay the loan.
The director of the Park City Service company was charged with especially large-scale fraud and forgery committed by a group of persons by a preliminary conspiracy.
On April 29, 2020, a local court in Yerevan rejected the request of the law-enforcement bodies to place the director under arrest and ruled that he could stay at large in return for 70 million dram bail and a written pledge not to leave the place of residence pending investigation.
A suspect or accused of an alleged crime is presumed innocent until proven guilty according to a court order that enters into legal force in the manner established by the Code of Criminal Procedure of Armenia. --0--
