CRIMINAL CASE OPENED IN CONNECTION WITH ABUSE OF OFFICIAL AUTHORITY BY OFFICIALS OF LIQUIDATION COMMISSION

Noyan Tapan

Dec 3, 2008

YEREVAN, DECEMBER 3, NOYAN TAPAN. Having examined the materials
sent by the RA Ministry of Economy concerning the activity of the
liquidation commission of Kanaz OJSC, the Department for Protection
of State Interests of the RA Prosecutor General’s Office opened a
criminal case under Article 308 of the RA Criminal Code (abuse of
official authority), according to the website of the RA Prosecutor
General’s Office.

During the alienation of property of Kanaz OJSC in 2004-2007, the
officials of the liquidation commission used their official positions
in their personal or group interests and contrary to official
interests and did not perform their official duties, as s result
of which they caused damage of 85,439,184 drams to the state. In
particular, at the action held on January 26, 2006, the liquidation
commission sold 25% of Kanaz OJSC’s shares of 108,636,184 drams in
ArAl CJSC to the founders of ArAl CJSC – Alumtec (50% of whose shares
belonged to the chairman of the liquidation commission) and Farazgam
CJSC at an obviously low and unfounded price of 23,197,000 drams,
causing damage of 85,439,184 drams to the state.

The criminal case has been sent to the Main Investigation Department
of Police for investigation.