Investigators Seek Victims of Actions by MS-Construction Company Director

The investigation into the fraudulent activities of the director of the MS-Construction Company and an acquaintance is continuing at the investigative department of the Ajapnyak and Davtashen administrative districts of Yerevan. According to the Investigative Committee of the Republic of Armenia, a criminal case has been initiated regarding the particularly large fraudulent activity carried out by the company's director and his acquaintance.

According to the findings of the investigation, the director of the aforementioned company began the construction of residential complexes 'A' and 'B' at 6/1 Fuchsik Street in Yerevan in 2011. He reached an agreement with the director of a company engaged in the production and installation of European windows for the installation of windows with a total area of 250-270 square meters in the residential buildings. The director had met the company director through his acquaintance, a 34-year-old resident of Yerevan, who is also a close friend of the company director's son.

As a result of the agreement, an installation of windows worth a total of $25,000 was carried out by the company's employees. However, the director of MS-Construction was unable to pay in cash for the services rendered, and after suspending construction work in April 2016, he reached an agreement with his 34-year-old acquaintance to fraudulently seize particularly large sums of money from the company director, intending to register an apartment for the 34-year-old man in exchange for an additional payment of $20,000. This was for a property valued at $45,000 equivalent to 21,687,300 AMD in one of the partially constructed buildings on Fuchsik Street.

According to the agreement, on April 5, 2016, a preliminary sale contract was signed between the director of the company and the company director's wife. Immediately after, the director of MS-Construction personally received $20,000 equivalent to 9,638,800 AMD cash from the company director, promising to provide the property title by May 31 of the same year.

Continuing their criminal intention, between April 2016 and May 2018, under various pretexts, they delayed the provision of the property title, and under the guise of completing the apartment's interior decoration work, the director of MS-Construction and his acquaintance demanded and received an additional $12,000 from the company director.

Subsequently, under the pretext of personally taking charge of the property registration, the 34-year-old man took the original preliminary sale contract through him, depriving the company director and his wife of the opportunity to acquire the apartment, which was purchased far below market price for 4,443,410 AMD on October 9, 2019, causing the couple significant material damage.

Based on the combination of sufficient evidence, the director of MS-Construction and his 34-year-old acquaintance were charged under part 1 of article 178 of the RA Criminal Code (fraud). They were placed under a preventive measure of not leaving. The investigation is ongoing. Efforts are being made to identify any other potential victims affected by the actions of the MS-Construction Company director.

All citizens who may have been affected by the actions of the above-mentioned company director are encouraged to contact the investigative department of the Ajapnyak and Davtashen administrative districts or call (010) 39-17-23.

Note: A suspected or accused person is considered innocent until proven guilty in accordance with the procedure established by the Criminal Procedure Code of the Republic of Armenia, by a court judgment that has entered into legal force.