Damage of Over $1,223,000 Incurred by 'Namakanish' Company

The Corruption and Economic Crimes Control Department of the Police has gathered factual data through prepared materials and conducted inspections indicating that in January 2009, the Government of the Republic of Armenia decided to dissolve 'Namakanish' Company.

Based on this decision, a liquidation commission for the company was established on March 30 by the former Minister of Transport and Communications. At that time, the company's accounts receivable amounted to more than $1,223,140.

It has been revealed that members of the liquidation commission, including the company's director, failed to exercise their rights and obligations laid out by legislation concerning the outstanding receivables, and did not file lawsuits to recover the company's debts. As a result, 'Namakanish' Company, which is 100% state-owned, incurred damages of over $1,223,140.

A criminal case has been opened in the police under the features of official negligence. An investigation is underway.