Company Director Arrested for Embezzling State Funds: Newspaper

Accused of supporting large-scale fraud and abusing his position, Samvel Hovhannisyan, the director of Kentron Makrutyun LLC, which is under Yerevan City Hall's jurisdiction, was arrested about two weeks ago.

Local daily Hraparak compares Hovhannisyan's case with that of the former chief of the State Social Security Service, Vazgen Khachikyan, who was arrested in 2012.  

Hraparak reports that Kentron Makrutyun also retained "dead souls," naming as employees people who never worked there, while the director and others pocketed their pay. There were other atrocious instances of embezzlement from the state budget: money laundering, falsifying employees' lists, and showing expenses that were never incurred. 

Police spokesperson Armen Malkhasyan yesterday did not respond to the newspaper's question on the amount of the embezzlement. According to information in Hraparak's possession, calculations are still being made, and the list of the accused is not yet complete. Currently only Samvel Hovhannisyan is accused.

Details can be found in today's issue of the newspaper (in Armenian only).