PRESIDENTIAL OVERSIGHT SERVICE REVEALS SERIOUS PRIVATIZATION BREACHES AND FRAUD
Armenpress
YEREVAN, JULY 12, ARMENPRESS: The presidential oversight service
said it is now examining a set of privatization deals on the sale and
auctioning of state-run property and land plots to find out whether
the process was in compliance with Armenian legislation. The oversight
service said the examination is envisaged by its 2006 plan of actions.
Officials from the oversight service said inquiries into the first
instances of state-run property privatization have revealed serious
cases of abuse and fraud, which have caused heavy damages to the state.
The service said, particularly, the money that was paid by individuals
and organizations for the obtained assets, were not transferred to the
state budget by brokers or were transferred in part only. It said in
some instances faked documents were submitted to cadastre offices. The
oversight service said criminal cases were instituted on these cases.