M.N., being the former rector of the “Yerevan Mkhitar Heratsi State Medical University” Foundation, both personally and with the assistance of M.S., the president of the “Heratsi” trade union organization created by the same foundation, deliberately, wastefully, using his position, committed embezzlement of particularly large property belonging to the Foundation entrusted to him, in the amount of 39 million 660 thousand drams.

The General Prosecutor’s Office reported.

In particular, M.N. reached an agreement with M.S. to transfer the funds of the Foundation to the “Heratsi” organization, to purchase vacation homes at higher than market prices from V.S., the director of “Tsovasar” hotel complex of the “Navasar” LLC, who is related to the Chairman of the Board of Trustees of the Foundation and further to transfer to V.S. the additional amounts to be paid. The Prosecutor General ‘s Office initiated a criminal prosecution against M.N. for the above-mentioned act.

M.N. is accused of embezzlement of particularly large amounts of property in the manner of waste provided for in Article 179, Part 3, Clause 1 of the Criminal Code in force at the time of the crime (currently, Article 256, Part 3, Point3 – embezzlement of particularly large amounts of property.

A criminal prosecution was also initiated against M.S. for aiding and abetting the theft of particularly large amounts of property by means of waste, provided for in Article 38-179, Part 3, Clause 1 of the Criminal Code in force at the time of the crime (for assisting in particularly large-scale theft of entrusted property, provided for in point 3 of part 3 of the Article 46-256 of the Criminal Code currently in force).

Necessary measures are being taken to identify the full range of persons involved in the corruption scheme and to initiate public criminal prosecution against them.

Note: The person suspected in or accused of an alleged crime is presumed innocent unless proven guilty in accordance with the Court’s verdict made effective.