Significant Funds Transferred from Avan Administrative District to Foundation Linked to Taron Margaryan

In 2018, the Avan administrative district of Yerevan allocated 11 million 666 thousand drams to the "Khut" foundation. This was reported by "Hetq," which received the information from the foundation's annual report released days ago.

According to the media outlet, the "Khut" foundation is associated with former mayor and member of the Republican Party's executive body, Taron Margaryan. It was established in October 2005 when Margaryan was the head of the Avan community. Since the foundation's inception, he has served as the chairman of its board of trustees. This information has been omitted from the official biography page of previous mayors on the city hall's website but exists in an older version of Margaryan's biography and other official publications.

Avan district head Ara Danielyan, in response to a query from "Hetq," stated that the purpose of the 11.6 million dram transfer was to support socially disadvantaged individuals.

It becomes clear from the contract signed between the administrative district and the foundation that the intended amount for this purpose was not 11.6 million but rather 35 million drams. However, the full amount was not transferred, likely due to the fall of the Republican government.

According to information received by the news outlet, the foundation was supposed to receive the funds in four installments, with each quarter amounting to 8 million 750 thousand drams. On February 2 and April 7, it received 5,833,000 drams each time. On June 28, just days before Taron Margaryan's resignation, a modification was made to the donation contract, reducing the allocated amount by 23 million 334 thousand drams. Thus, the previously transferred 11.6 million drams were taken into account, and further allocations were halted. The reason for this change is not specified.

Ara Danielyan also informed that the administrative district collaborated with the foundation from 2013 to 2017, transferring a total of 214.7 million drams.

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