Armenian prosecutors uncover property damage case for 100 million drams

Armenia’s Anticorruption Committee has initiated criminal investigation into a fraudulent case involving the Property Appraisal and Auction Center SNCO on grounds of abuse of power and foregry.

YEREVAN, September 23. /ARKA/. Armenia’s Anticorruption Committee has initiated criminal investigation into a fraudulent case involving the Property Appraisal and Auction Center SNCO on grounds of abuse of power and foregry. The case was referred to the Anticorruption Committee by the Office of Prosecutor General.

According to the prosecutors, a government-owned 1,174.8 square meters building in Yerevan had been estimated by the SNCO to cost 128.7 million drams.

The building was later sold to citizen A. A. for 128.7 million drams. However, according to the Cadastre Committee, the cadastre value of the given property is 229.8 million drams, i.e. approximately twice as much.

The damage to the state is estimated at about 100 million drams (more than 239,200 USD). ($1 – 418.04 drams.) -0-