YEREVAN. – The Armenian BAMO Company, which belongs to the Muradyan brothers, is in a financial crisis, Zhoghovurd daily reported.

“Virtually all the businesses they had in the Russian Federation have failed. And when Hovik Muradyan, from the brothers, died in December 2013 from multiple stabbing in Downtown Moscow, their affairs became [even] more complicated.      

“And on August 21 of this year, the Government of Armenia took from BAMO, because of credit default, [its] virtually the only major property remaining in Armenia: the [Karen Demirchyan] Sports and Concert Complex [in capital city Yerevan].  

“And seeing that the noose is tightening around the Muradyan in Armenia and in Russia, they decided to settle in another country.

“Zhoghovurd learned that [Armenia’s] former Ambassador to Iraq, Murad Muradyan, has now moved to Germany.

“The same sources report that BAMO’s proprietor now aims to start business activities in Germany, and the connections he had acquired while being an ambassador help him in this matter,” Zhoghovurd wrote.