The Director of “Hayastan” All-Armenian Fund Has Been Arrested.
On the basis of operational data of the National Security Service of the Republic of Armenia on July 2, the Director of the “Hayastan” All-Armenian Fund Ara Vardanyan was arrested upon the suspicion of embezzlement, as well as abuse of authority by an NGO official. (Video material)
Under the pressure of factual situation Vardanyan confessed that while disposing of the AMD 25 million credit bank card that was extended to the Fund, he used the funds for personal purposes, including using them for bets in different online casinos.
As to him, Vardanyan returned the funds wasted from the credit card to the Fund out of the raised money. Then, he credited the Fund accountancy with his personal savings, thus suppressing the fact of wasting the Fund money.
Only during the last week Vardanyan has transferred about AMD 14 million from the Fund bank card to online casinos. And from 2016 to 2018 this amount was around AMD 130 million.
Currently an inspection is conducted in “Hayastan” All-Armenian Fund to reveal the possible misuse and embezzlements, as well as for the revision of the legality of the use of raised money.
Ara Vardanyan is arrested. The preliminary investigation goes on.

Note. Every person suspected in or charged with a criminal offence shall be presumed innocent unless proved guilty in the manner prescribed by the criminal procedure Code of the RA and unless the verdict comes into legal force.