Bank Manager in Armenia Steals Nearly 29 Million Dram from Client

A 54-year-old resident of Gegharkunik province, who serves as a branch manager at a bank operating in Armenia, caused a property damage of 28,901,500 AMD to one of the bank's clients. This information was reported by the Investigative Committee of Armenia.

The man learned about the possession of 50,000 USD, equivalent to 23,901,500 AMD, by a resident of the enlarged Martuni community of Eranos. He intended to deceive the man by abusing his trust to steal the money. He invited the resident to his office and offered him a false promise of returns exceeding the bank's deposit interest rates if he entrusted his funds to him. After that, for about 2 months, he paid the man a monthly amount of 750 USD as promised returns.

Subsequently, once informed that the resident of Eranos had made a deposit of 5,000,000 AMD at the bank's branch, he suggested that the man withdraw that amount from the bank and hand it over to him, promising to ensure returns exceeding the deposit interest rate. However, after receiving the specified amount in cash in his office, the bank manager stole the money, causing the aforementioned man substantial property damage of 28,901,500 AMD.

A charge has been filed against the 54-year-old man under Article 178, Part 3, Clause 1 of the Criminal Code of Armenia (Fraud resulting in significant damage). Pre-trial detention has been chosen as the measure of restraint against him. The investigation is ongoing. The pre-trial body urges all citizens who have been affected by the criminal actions of this individual to contact the Martuni Investigative Division of the Gegharkunik Regional Investigative Department of the Investigative Committee of Armenia.