New Case of Embezzlement Discovered at the Armenia All-Armenian Fund

The National Security Service of the Republic of Armenia has uncovered a new case of embezzlement at the Armenia All-Armenian Fund.

According to the National Security Service, committed to being as open and transparent as possible before the public, it is necessary to inform that as a result of numerous investigative actions and operational-search measures carried out since July 2, 2018, under Article 214, Part 1 of the Criminal Code of Armenia, sufficient evidence was obtained. On October 8, 2019, the charges against Ara Vardanyan, the former executive director of the Armenia All-Armenian Fund, were modified and supplemented under Article 214, Part 1, Article 179, Part 3, Clause 1, and Article 325, Part 2 of the Criminal Code of Armenia.

According to the factual data, he, having reached a preliminary agreement with the director of a limited liability company owned by the Fund with 100% participation, signed a contract on October 26, 2017, to supply property worth 149,474,540 AMD to the education departments of the administrative districts of Askeran, Shahumyan, Martakert, Hadrut, Kashatagh, and Martuni of the Artsakh Republic. However, the goods in question were not delivered, and official forged documents, including acceptance-receipt acts of material assets, were fabricated in order to embezzle the aforementioned amount that had been withdrawn from the Fund for this purpose.

On October 9, 2019, the Yerevan Court of General Jurisdiction, having satisfied the petition of the prosecuting authority, changed the bail previously selected as an alternative preventive measure for the accused and chose detention as a preventive measure.

The National Security Service urges to use official sources when publishing materials about his activities to verify the reliability of the information obtained.