ArmInfo. The court granted the request of the investigator to elect a preventive measure as an arrest against the director of the Youth Foundation of Armenia.
The press secretary of the Investigative Committee Naira Harutyunyan wrote about this on her Facebook page.It was reported earlier that the executive director of the Youth Fund of Armenia was charged with embezzlement and money laundering on a large scale. The investigator sued for his arrest. According to the Armenian Investigative Committee, on May 25, 2018, the investigative body received a statement from Member of the Board of Trustees of the Armenian Youth Fund, Member of Parliament Karen Avakian that on April 6, the Executive Director of the Youth Fund of Armenia, on behalf of this fund, signed an agreement on a loan with 326 million drams (about 672 thousand dollars). On this fact, a criminal case was initiated on the grounds of paragraph 1 of part 3 of article 179 (Assignment or embezzlement in especially large amounts) of the Criminal Code of Armenia.
The investigation revealed that the citizen who held the position of executive director of the Youth Fund of Armenia from 2010, from April 29, 2013 to May 22, 2018, assigned the large amount of money entrusted to him.According to the source, in order to conceal and distort the fact of assigning an obviously appropriated extra large amount of money, he legalized this amount by transferring in parts to the accounts of various affiliated organizations and individuals, cashing out and carrying out various operations. In particular, in this way he legalized a particularly large amount of 226 million 464 thousand drams (about 477 thousand dollars), transferring cash in cash to his mother's account, and then sent from these accounts an amount of 539 thousand 332 dollars to the account in one of British banks. "After that, 490 thousand 583 dollars from the British accounts were transferred to the account of his wife MK, and then from this account 477 thousand. 485 dollars were transferred to a personal account in one of the Armenian banks and cashed for personal use>, - On January 24, 2019, on the basis of the above information, the Executive Director of the Youth Fund of Armenia was charged under clause 1 of part 3 of article 179 (Assignment or embezzlement in especially large amounts) and under clause 1 of part 3 of article 190 (Legalization of income in especially large sizes received by by horseback) of the Criminal Code of Armenia. Preliminary investigation continues.