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October 18
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YEREVAN. – The National Security Service (NSS) has exposed a new case of theft at the Hayastan (Armenia) All Armenian Fund.

As per the respective NSS statement, in line with new evidence ascertained from the investigation into the criminal case which the NSS had launched, the criminal charge that has been brought against Hayastan All Armenian Fund former executive director Ara Vardanyan has been commuted and supplemented, and charges have been filed again under several articles of the Criminal Code.

According to the evidence, Vardanyan, upon prior agreement with the director of a company that belongs to the fund by a 100% share, had signed a contract on October 26, 2017 to supply AMD 149,474,540 (approx. US$313,874) worth of property to the education departments of the administrations of Askeran, Shahumyan, Martakert, Hadrut, Kashatagh, and Martuni regions of the Republic of Artsakh (Nagorno-Karabakh Republic). But the said property was not supplied. And in order to embezzle the aforementioned amount of money that was written off from the fund for the abovementioned purpose, they had prepared false official documents—acts of supplying and receiving of material.

The capital city Yerevan Court of General Jurisdiction on Wednesday granted the petition of the body conducting the proceedings, commuted accused Ara Vardanyan’s pretrial measure of being released on bail, and ruled that he be remanded in custody. 

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