Former President of 'Kentron-1' Cooperative Embezzles a Total of 21 Million Drams, Reports RA Police

The main department for combating organized crime at the Police of Armenia has revealed the misdeeds of the former president of the 'Kentron-1' cooperative in Yerevan's Kentron administrative district based on information received.

According to preliminary data, from 2008 to 2018, he appointed his wife as a collector inspector with the intent to commit embezzlement. However, she never reported to work and did not fulfill the obligations stipulated in the employment contract. Instead, those duties were assigned to other employees of the cooperative.

The former president of the cooperative, along with the former head of the collections department, fabricated false attendance information about his wife and confirmed it, creating fake monthly reports of working hours. Based on these, he embezzled particularly large amounts of salaries and bonuses calculated in his wife’s name, totaling 21,127,000 drams.

A criminal case has been initiated in the main department for combating organized crime at the Police and has been sent to the investigative committee for further investigation.