Nazik Amiryan, Owner of 80% of Hayburyakapak LLC, Charged

The Investigative Committee of the Republic of Armenia has reported significant findings during the criminal investigation concerning Nazik Amiryan, the owner of 80% of Hayburyakapak LLC. She has been charged with embezzling property valued at 221,970,000 AMD belonging to the company and leading the company into deliberate bankruptcy.

According to the Investigative Committee, Amiryan is facing charges based on substantial evidence gathered during the investigation. Following the Armenian Government's decree dated February 7, 2001, shares of Hayapaki LLC, worth 573,733,000 AMD—which are 80% state property—were sold to Amiryan for 145,000,000 AMD, with a mandate to invest 100,000,000 AMD, 80,000,000 AMD, and 70,000,000 AMD over three years while also ensuring the creation of 350, 500, and 700 jobs as a social guarantee.

However, during her tenure, Amiryan allegedly breached her contractual obligations by intentionally leading the company toward bankruptcy while also benefiting personally. As a result, the company failed to meet its tax obligations towards the state and other organizations, prompting the Enforcement Service of the Ministry of Justice to seize part of the real and movable assets belonging to Hayburyakapak LLC.

Moreover, on March 12, 2003, Amiryan established another company under the name of an associate but effectively owned it; later, as a private individual, she participated in auctions announced by the Enforcement Service of the Ministry of Justice. Through these auctions, she won and acquired an industrial production area belonging to Hayburyakapak LLC, valued significantly below market value at 8,318,880 AMD, on June 28, 2003.

Subsequently, on December 16, 2003, with a contract between her company and the Enforcement Service, Amiryan purchased 86 real and movable assets belonging to Hayburyakapak LLC for 547,500 AMD. In the long run, assets acquired for only 8,866,380 AMD were appraised at 221,970,000 AMD and were integrated into the charter capital of Amiryan's private company.

In these maneuvers, Nazik Amiryan allegedly transferred significant property out of Hayburyakapak LLC, consequently creating insolvency indicators. In fact, the dispossession of property worth 221,970,000 AMD occurred for just 8,866,380 AMD, with the difference being funneled into Amiryan’s personal funds rather than the company, leading to a court ruling on December 29, 2003, that recognized the company as insolvent, causing damages of 213,103,620 AMD to both the company and its creditors.

Amiryan has been charged under Article 179 (theft or misappropriation) and Article 193 (deliberate bankruptcy) of the Criminal Code of Armenia, with a travel restriction imposed as a preventive measure. The pre-trial investigation continues.