Cooperative President Embezzles 2,303,030 AMD from Company Account

The president of the cooperative has reportedly made false official documents, claiming that payment notifications were issued for funds transferred to their account. Out of a total of 8,000,000 AMD sent to the cooperative's account, a substantial amount of 2,303,030 AMD has been withdrawn in cash and embezzled. The Investigative Committee of Armenia has provided further details.

According to the Investigative Committee of Shirak Province, a criminal case has been initiated regarding embezzlement and forgery of documents. It has been established that the president of the 'Aghin Community Grazing Users Association' consumer cooperative, who has held this position since February 13, 2012, signed a contract with the state agency for the implementation of agricultural programs on February 15, 2013. This was part of the 'Management of Agricultural Resources for Communities and Competitiveness' program aimed at developing grazing land management and livestock farming in Aghin community.

In May and September of 2013, the president of the cooperative created false official documents in the form of payment notifications, forging the signatures of residents of Aghin community who were nominally included as members of the consumer cooperative. These notifications falsely claimed that the individuals mentioned had received funds allocated for animal feed production from the state agency.

Out of the total amount of 8,000,000 AMD transferred to the cooperative's account, a significant sum of 2,303,030 AMD was withdrawn in cash and embezzled. Based on sufficient evidence collected, the president of the consumer cooperative has been charged under Part 2, Clause 3 of Article 179 and Part 1 of Article 325 of the Criminal Code of Armenia,” the statement reads.