Friday, November 8 2019 18:15
Karina Manukyan

Criminal case instituted on facts of abuse during bankruptcy  proceedings of  "ArmGlass"  CJSC.

Criminal case instituted on facts of abuse during bankruptcy  proceedings of  "ArmGlass"  CJSC.

ArmInfo. A criminal case has been opened on the facts of abuse during the bankruptcy proceedings of "ArmGlass"  CJSC.

According to the press service of the RA Prosecutor General's Office,  the investigation revealed criminal schemes for the implementation of  the bankruptcy procedure and the misappropriation of property of  "ArmGlass" CJSC. In particular, by a decision of the Government dated  February 7, 2001 80% of the state shares of the company worth 574  million drams were alienated to the citizen N.A. for 145 million  drams, with the condition of investments in the amount of 250 million  drams over three years and the creation of 700 jobs.

Meanwhile, N.A. did not fulfill his contractual obligations and, with  the participation of the new director of the company, deliberately  did not fulfill tax and other obligations, as a result of which on  December 29, 2003 the company was declared bankrupt.

Further, through various criminal schemes, all the property of the  company worth 571.1 million drams was estimated at only 121.3 million  drams. For this amount, it was purchased at an auction by a company  co- founded by N. A.  A criminal case has been instituted;  preliminary investigation continues.

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