On July 15, 2010, RA citizen S.K. obtained the shares of «WLISPERA HOLDINGS LIMITED» organization established in the Republic of Cyprus and transferred the management authority of the mentioned company to his godchild A.S. Founding Director of Dzoragyugh production cooperative, thus helping to legalize the income in particularly large amounts acquired through criminal offence. 

 It was found out by the criminal proceedings, that under the contract concluded between the Dzoragyugh production cooperative and one of the banks A.S. received a loan in the amount of AMD 3 billion 664 million 175 thousand equal to USD 9 million and AMD 361 million 500 thousand from the bank, having no intention to return the amount of the loans to the bank.

A.S.  carried out several bank and commercial transactions for the purpose of legalizing income received from the fraudulently acquired property rights and hiding or distorting its origin and  movement.

 Particularly, income in particularly large amounts—131 million 950 thousand equal to USD 350 thousand (obtained through crime) was transferred from the accounts in USD opened under the name of Dzoragyugh production cooperative to the account in the HELLENIC BANK PUBLIK COMPANY LTD bank of the Republic of Cyprus, opened under the name of WLISPERA HOLDINGS LIMITED company belonging to the S.K. and latter and mixed them with the amounts received through the same way and transferred from the accounts of two other companies belonging to the latter. Instead USD 1 million 707 thousand 32.3 was transferred to the accounts in USD belonging to Dzoragyugh production cooperative.

By the decision of the Court of Cassation dated 14.04.2021 A.S. was sentenced to ten years’ imprisonment with the confiscation of property (A.S. was not found out and a search was declared).

During the preliminary examination, on April 13, 2020 charges were brought against S.K. under point 1 of part 3 of article 178 and point 1 of part 3 of article 190 of the Criminal Code adopted on 18.04.2003.  Signature not to leave was chosen as a measure of restraint.  S.K. didn’t plead himself guilty. On December 17, 2021 a decision was made on termination of the criminal prosecution against S.K. and on annulling the measure of restraint imposed on him (signature not to leave) as, his actions lack corpus delicti.

On 11 July 2023, the supervising prosecutor annulled the decision of the investigator dated 17 December, 2021 on the grounds that it was unreasonable. 

Notice:  A person charged with any crime shall be presumed innocent until proved guilty in the manner prescribed by the RA Criminal Procedure Code—by the judgment came into legal force.