Ara Vardanyan, Executive Director of Hayastan All-Armenian Fund was detained on July 2 on the basis of the operative data received by the National Security Service of the Republic of Armenia, as well as the abuse of power by the NGO employee, the NSS informs.

Under the circumstances, Vardanyan confessed that by managing the 25 million dram credit card issued to the fund, he used the funds for personal purposes, including directing them to various online casinos bets.

According to Vardanyan, he returned back the funds spent from the credit card to the account of the collected funds. Further, he invested cash personal funds to the accounting of the Fund, thus concealing the fact that the fund was wasted.

Only during the past week Vardanyan has transferred about AMD 14 million from the bank card to online casinos, and from 2016 to 2018 this amount made about 130 million AMD.

Currently, checks on revealing possible abuses and misappropriations, as well as clarifying the legitimacy of the spent money are being conducted in Hayastan All-Armenian Fund.

 Ara Vardanyan is arrested. The preliminary investigation is in process.

Notice: The person suspected in or accused of an alleged crime is presumed innocent unless proven guilty in the manner prescribed by the RA Criminal Procedure Code in accordance with the Court’s verdict made effective.