GAFESJIAN WILL BE BACK

October 10, 2009

American Armenian businessman Gerard Gafesjian will probably stop
his business in Armenia and will leave only the Gafesjian Museum for
symbolic purposes. The problem is that the businessman who has invested
millions in Armenia has been cheated and his money was embezzled. It
was done through certain financial mechanisms and methods, which was
ignored by Gafesjian even though the Armenian media has written about
it in the past. When his Armenian colleagues asked for 150 million
dollars to build the museum he understood who and what he was dealing
with. The main person responsible for this project was the deputy head
of the Gafesjian Family foundation, who has been fired already. The
owner of Armenia TV company Bagrat Asatryan is Gafesjian’s partner
in Armenia and it is said that this person is connected with these
deals too. In fact the list of the people who were involved in this
"benevolent" work is pretty long. As a result, according to our
sources information from the banking system, during the past months
Gafesjian has sold his main businesses in the financial sector of
Armenia (Cascade Bank, Cascade Insurance, etc.). According to our
well-informed sources of information, he is going to sell his share
in Armenia TV company as well.

Definitely Gerard Gafesjian will visit Armenia in November and we
will learn new facts about this issue. On the other hand, all what
is happening to the Diaspora Armenian businessmen in the same period
when the issue of the Armenian-Turkish relations is discussed and
the president is visiting the main Armenian communities overseas is
very symbolic.