Another Corruption Misappropriation: 85.5 Million Dram Loss Incurred

The State Interests Protection Department of the Prosecutor General's Office of Armenia has examined the lease process of a building and land owned by the "Collective Teams Sports Center" LLC, which is fully state-owned, based on documents received from the State Property Management Committee of Armenia. To ensure the completeness of the investigations, necessary data and documents were also requested and received from the State Revenue Committee of Armenia.

According to the Prosecutor's Office, it was revealed that in 2007 a lease agreement was signed between "Collective Teams Sports Center" LLC and a private company, the founder of which is the wife of the LLC's director. Under this agreement, which has a term of 25 years, a building with an area of 6,580.8 square meters and a land parcel of 1.1807 hectares owned by the state organization was leased to the private company for a monthly fee of 480,000 Armenian drams.