Zhoghovurd Armenian newspaper: Unprecedented and “original” misuses at Hayastan All-Armenian Fund, there are elements of crime

“The Audit Chamber of the Republic of Armenia has released the results of the audits conducted at Hayastan All-Armenian Fund in the period between August 29, 2018 and September 30, 2019. Zhoghovurd Armenian newspaper was informed that both the amounts and types of the detected misuses were unprecedented.

One of the “original” misuses is, for instance, the “made up” expenses for generator fuel used during the two-and-a-half-hour concert that the rock band System of a Down gave in Armenia on April 23, 2015. The presented funds for that concert were as much as the funds that would have been spent, if the same rock band had given a concert for about 89 hours.

The domestic appliances for the apartments of socially disadvantaged families and the equipment for capitally renovated schools and kindergartens were obtained for AMD 23,609,100 under signed contracts, but sold to the Fund for about AMD 40,000,000.

The list of these “original” misuses goes on and on. The Audit Chamber told Zhoghovurd Armenian newspaper that it had doubts about prima facie elements of crime in the Fund’s transactions during the audits.

You can read the whole article in today’s edition of the newspaper.