Major Fraud in North-South Road Project: Director of Contractor Charged

Armenia


The Investigative Committee has informed that the director of the main contractor of the North-South road project has been charged, and cases of money laundering have been found.

The director of the main contractor has stolen 1.8 million dollars by signing fraudulent payment orders together with the team lead of the French company which provided technical control during the construction of the sections of Tranche 1, Tranche 2 and Tranche 3 of the North-South Road Corridor.

The director of the main contractor will be remanded in custody. Currently the director is not in Armenia and is wanted. Earlier the team lead of the French company was charged too.

In addition, the Investigative Committee and the National Security Service have obtained information on cases of money laundering during the implementation of the project between the contractor and the subcontractors in the result of which the money obtained in the result of earlier committed crimes were legalized. Two directors of subcontractors were charged, the person who organized these transactions is wanted.

The investigation continues to reveal the scope of people involved in this case, the Investigative Committee informed, describing the investigation as unprecedented by its volume.



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