Ex-president Serzh Sargsyan Charged with Organizing Embezzlement


The third president of Armenia Serzh Sargsyan has been charged with plotting embezzlement of almost 500 million drams in the period between 25 January-7 February 2013 by a group of officials, the Special Investigative Service informed.

According to the charges, on 24 January 2013 the government approved the government assistance program for acquisition of diesel fuel to subsidize agriculture in spring 2013. The program envisaged selling 17,041,300 liters of diesel fuel to farmers based on requests submitted by the regional governors’ offices and the organizations of the system of the Ministry of Agriculture. Several companies, including Maxhur and Flash LLC expressed readiness to supply fuel. Maxhur proposed the lowest price, and the official of the Ministry of Agriculture decided to submit the data of the mentioned company to the government for approval as a supplier. Nevertheless, Serzh Sargsyan ordered his subordinates to select Flash LLC as a supplier, with a motivation to misuse his powers to facilitate maximum profit for Flash LLC, ignoring the circumstance that thereby an immense sum would be wasted from the treasury.

As a result, under a government decision dated 7 February, 2013 1,789,336,500 AMD was allocated to the Ministry of Agriculture from the reserve fund of the government to supply 17,041,300 liters of diesel and the amount was transferred to the bank account of Flash LLC.

Later the quantity of diesel was increased up to 17,343,530 liters and the allocated amount to1,821,070,650 AMD and another 31,734,150 AMD was transferred to Flash LLC.

In the result of this program, in the period between February 14 and June 28 in 2013 12,088,334 liters of diesel was sold, the subsidy totaled 1,269,275,070 AMD. The subsidy would total 846,183,380 AMD if the same quantity of fuel had been bought from Maxhur LLC, which means that 423,091,690 AMD was wasted from the treasury.

551,795,580 AMD allocated for the remaining 5,255,196 liters of fuel was left to Flash LLC under the government decision dated 29 August 2013 to implement the program in autumn 2013. Based on this decision, on 12 September 2013 an agreement on subsidizing was signed between the Ministry of Agriculture and Flash LLC and the subsidy paid to Flash LLC totaled 551,795,580 AMD was redefined for 6,131,062 liters.

In the period between September 12 and November 23, 2013 3,303,431 liters of diesel fuel was bought, the subsidy totaled 297,308,790 AMD. If the fuel had been bought from Maxhur LLC, the subsidy would total 231,240,170 AMD, in other words, 66,068,620 AMD was wasted.

In total, 489.160.310 AMD was embezzled under this scheme.

Serzh Sargsyan signed a non-departure order.

Source link

Products You May Like

Articles You May Like

Putin Was Worried by Examples of Qaddafi and Serzh Sargsyan. What Should Be Expected in Russia?
Winner of Converse Bank and MasterCard joint campaign will travel to Disneyland Paris
Strange Situation: Two Contradictory Statements
I Prayed First Time in My Life, Begging to Save Me: Survivor of Massacres of Armenians in Baku
Hairy situation: Scientists explain how stress-related graying occurs

Leave a Reply

Your email address will not be published. Required fields are marked *