On December 2, 2024, the First Instance Criminal Court of General Jurisdiction of the City of Yerevan granted the motion submitted by the prosecutor and subjected the former Executive Director of the “Youth Foundation of Armenia” (hereinafter referred to as “the former Executive Director of the Foundation”) to punishment — imprisonment for the term of 10 years and decided to confiscate from the former Executive Director of the Foundation AMD 325 million 600 thousand in favor of the Republic of Armenia (represented by the liquidation committee of the “Youth Foundation of Armenia”).    

Let us remind that it was revealed by the criminal proceeding examined in the Investigative Committee, that the former Executive Director of the Foundation during the period of April 29, 2013 -May 22, 2018, cashed out AMD 325 million 600 thousand from bank accounts of the foundation (belonging to foundation and entrusted to him) and afterwards illegally took the abovementioned money. AMD 226 million 464 thousand from the abovementioned appropriated money was transferred from one account to another and afterwards it was legalized through concealing and dividing the abovementioned amount into pieces.

On January 24, 2019, a public criminal prosecution was initiated against the former Executive Director of the Foundation under point 1 of part 3 of article 179 (embezzlement committed on a particularly large scale) and point 1 of part 3 of article 190 (legalization of proceeds of crime on a particularly large-scale (money laundering)) of the criminal code adopted on 18.04.2003.

On April 30, 2019, indictment and materials of the case were submitted to the competent court.

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.