On January 10, 2025 the Prosecutor submitted the materials of the criminal proceeding regarding A.K. director of the development company and H.A. director of the immovable property appraisal company for illegally taking funds and immovable properties  in the amount of AMD 666 million 765 thousand from the owners of the immovable properties located at the territory adjacent to Abovyan-Arami-Nalbandyan streets.

It was revealed by the criminal proceeding examined at the Investigative Committee that A.K. with the help of H.A. illegally took immovable properties and funds on a particularly large scale from A.M. and T.M., Ash. M. and G.K., A.K. and V.N., A.A. and A.N., V.H. and H.A., H.GH. and L.M.. They also used false documents.

Let us remind that on July 16, 2001, the zone of alienation of immovable properties for the needs of the State located at the territory of the Northern Avenue of the city of Yerevan with the surface of 82 700m² was approved by the decision of the government. The immovable properties belonging to the abovementioned persons located at the territory adjacent to Abovyan-Arami-Nalbandyan streets of the city of Yerevan were, among other properties, also included in the zone of alienation for the needs of the State.  

The territory with the surface of 82 700 m² adjacent to the abovementioned streets was provided to A.K.’s company for implementation of land parcel development investment program. For the purpose of continuous appraisal of market value of the immovable properties A.K. signed contracts with the company implementing appraisal of the immovable properties belonging to H.A.. A.K. ordered H.A. to give appraisal for the abovementioned immovable properties at a price significantly lower than the real market value thereof and to prepare false appraisal reports.

As a result, during 2005-2008 5 appraisal reports were drawn up with false content, which were signed by H.A. Certified by the seal of his company and handed over to A.K., thus abetting the commitment of fraud on particularly large scale by A.K..

On October 1, 2024 and on November 21, 2024 the prosecutor initiated a public criminal prosecution against A.K. under point 1 of part 3 of Article 178 (fraud committed on a particularly large-scale) and part 1 of article 325 (forgery of documents) and against H.A. under point 1 of part 3 of Article 38-178 (abetting the fraud committed on a particularly large-scale) and part 1 of article 325 of the Criminal Code adopted on 18.04.2003. 

AMD 666 million 765 thousand was transferred to the deposit account of the Investigative Committee by A.K., the charged person, as a recovery of damages caused to the injured parties.

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.