Thursday, August 15 2019 12:24
Ani Mshetsyan

Violations revealed during transfer of shares of "Parking City  Service" company to the balance of Yerevan Municipality

Violations revealed during transfer of shares of "Parking City  Service" company to the balance of Yerevan Municipality

ArmInfo.Armenian police are preparing materials received from the Prosecutor General's Office on the transfer to the Yerevan Municipality of the company "Parking City Service" (maintenance of Yerevan paid parking lots), the results of  the study of which revealed violations.  This was reported by the  press service of the Prosecutor General's Office.

According to the source, it was revealed that in November 2016 the  Yerevan Municipality was negotiating with the consortium "Parking  City Service" and "Locator" in connection with the issue of  transferring control over financial flows resulting from parking fees  and transfer of control to the community. Based on the results of the  negotiations, a protocol was drawn up in which it was noted that the  community of Yerevan accepts 100% of the company's shares as a gift.  In turn, the mayor's office is obligated to repay them, after  evaluating investments, assets and liabilities.

However, it was revealed that having violated the agreement, without  conducting an audit at Parking City Service LLC, based on the  advisory opinion received, the company's funds were valued at  1.788.000.000 drams. Then, by a decision of the Council of Elders of  the Yerevan Municipality on November 21, 2016, 100% of the company's  shares were transferred to the Yerevan Municipality. By the decision  of the Council of Elders, the shares of the Parking City Service  company were transferred to the trust management of the Locator  company. Meanwhile, it was found out that during the transfer of  shares, the real price of the company's assets was overstated, and as  a result, the mayor's office paid drams more than the  real value of the assets. As a result, the Municipality of Yerevan,  not being a party to the company's agreements and having no  obligations, paid from the budget in 2017 to 2018 713,000,000 in  repayment of the company's loan.

Moreover, the company officials from 2017 to 2918, as well as in the  first quarter of 2019, as a result of an incorrect calculation of the  salaries of employees, pocketed thereby 20.714.515 drams. A criminal  case has been instituted on 308 and 179 articles of the RA Criminal  Code. The proceedings were transferred to the Investigative  Committee.

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