On Wednesday July 22, 2009, Ara Terunyan, 35, former ARARATBANK manager was shot several times in City of Glendale, North Hollywood.

The shooting occurred in one of parking lots, when Terunyan had accompanied his wife to an appointment at a medical office located at the accident scene. While sitting in black Lexus SUV with his wife, the suspect appeared and began firing, striking him several times. His wife was left unharmed. Glendale Police Department pronounced Terunyan dead at the scene. The suspect, described as African American male fled the scene by leaving in blue American made sedan.

Hovik Dadasyan, Terunyan’s friend, said the victim's wife is pregnant, and he had no idea why the bank executive would be targeted. Yerevan based branch of Araratbank OJSC informed NEWS.am that Ara Terunyan is not employed with them, but was Deputy Director in one of the branches 6-7 years ago.

The owner of ARARATBANK Barsegh Beglaryan also holds a post of “Flash” LLC President.