Deputy Principal in Gegharkunik Region Embezzles $800,000 Through Fraud

The deputy principal of a secondary school in the town of Gavar, Gegharkunik region, has allegedly committed several fraudulent acts, leading to a criminal proceeding being initiated based on reports received. This was announced by the press service of the Investigative Committee.

Specifically, on July 26, 2023, six citizens reported to the Gegharkunik Regional Investigative Department that N.A., the deputy principal of one of the secondary schools in Gavar, claimed that his brother was a politician, assuring them that he had supposedly founded a bank and promised to return an amount equivalent to 30% of the deposit to depositors on a monthly basis.

“In this manner, the named person deceitfully received amounts ranging from $3,000 to $400,000 from about 50 residents of the Gavar community and failed to return the funds. According to these reports, the total amount of funds provided by citizens is approximately $800,000,” the statement noted.

Additionally, information has been received regarding other incidents of embezzlement committed by N.A. Specifically, two citizens reported that the same individual borrowed significant amounts of money (in one case, 1,200,000 AMD, and in another, $15,000) from them between 2022 and 2023, promising to return the money within a few days, yet they have not received it months later.

Based on the data and reports, several criminal proceedings have been initiated under parts 2 and 3 of Article 255 of the Criminal Code of the Republic of Armenia—specifications for fraud committed using official or service authority or influence derived from it, and large-scale fraud. These cases have been consolidated into a single criminal proceeding.

An investigation is underway. Measures are being taken to clarify all circumstances of the cases, identify the full scope of victims, assess the damages incurred by them, and legally evaluate the actions of the individual occupying the position of deputy principal. The Ministry of Internal Affairs has been instructed to carry out necessary operational investigative measures.