Director of Construction Company Embezzles Property of Particularly Large Value

The investigation into the case of embezzlement of property of particularly large value by A.K., the director of a construction company, has been completed by the Main Investigation Department of Especially Important Cases of the RA Investigative Committee.

During the investigation of the criminal case, substantial evidence was obtained indicating that H.A., the director of a real estate appraisal company, provided A.K. with a falsified appraisal report for properties to be acquired in an area recognized as predominantly of public interest at the intersection of Abovyan, Nalbandyan, and Arami streets in Yerevan, significantly lower than their actual market value.

As a result, based on the report, A.K. fraudulently embezzled real estate belonging to V.G. and S.Y. valued at 370 million 700 thousand AMD, paying only 74 million 906 thousand AMD as stated in the appraisal report.

A public criminal prosecution has been initiated against A.K. under Article 255, Part 3, Point 3 of the Criminal Code (fraud committed in particularly large amounts) and Article 457, Part 1 (forgery or fraudulent use of documents, stamps, seals, or forms). Similarly, charges have been brought against H.A. under Article 255, Part 3, Point 3 (aiding fraud committed in particularly large amounts) and Article 457, Part 1.

A lien has been placed on real estate owned by A.K. amounting to 295 million 902 thousand AMD. The criminal proceedings have been forwarded to the supervising prosecutor with an accusatory conclusion.