Former Vanadzor Hospital Building Sold at Formal Auction for Significantly Lower Value: Police

The police in the Lori province received operational information from the main department of criminal police regarding the fight against corruption and economic crimes that the former hospital building in Vanadzor was sold at a significantly lower value and through a formal auction.

During the preparation of the materials, facts were obtained through measures carried out by the police of the Lori province and the Taroni division, demonstrating that competent officials of the Vanadzor municipality used their official powers contrary to the interests of the service. They ignored the requirement to evaluate the municipal property being alienated according to the law, which obligates an evaluation in such cases.

Instead, basing their actions on a report prepared by a private company commissioned by a resident regarding the market value of the building, the building with a cadastral value of 76,275,000 drams was presented as subject to demolition and evaluated at an extraction value of 2,080,000 drams.

As a result, the competent officials of the municipality, using the evaluation report prepared on behalf of a person who actually wanted to buy the property, conducted a formal auction on April 10, 2018, selling the building with an area of 1281 square meters and the land lot of 1443 square meters for a price almost 11.5 times lower, at 6,638,000 drams. Shortly after, the same property was resold by that same individual for 21,555,000 drams to another person.

Thus, the community suffered damages of particularly large amounts, totaling 69,636,000 drams, and serious consequences were caused through negligence. A criminal case was initiated on February 7, and an investigation is underway.

Notification: The suspect or accused in the alleged crime is considered innocent until proven guilty in accordance with the procedures established by the Criminal Procedure Code of the Republic of Armenia, with a court judgment that has entered into legal force.