In October 2014, “Ararat Bank” Open Joint Stock Company filed a claimed to the Court of General Jurisdiction of Kentron and Nork Marash Administrative Districts of Yerevan against Lyova Martirosyan, the Director of “LHNM” LLC. Martirosyan appeared in the dock based on the fact that on 7 February 2012 he had signed a loan agreement with “Araratbank” and received USD 150.000 worth loan from the loan funds provided to “Araratbank” by the international organization European Bank for Reconstruction and Development. Purpose of the loan was buying gaming machines from the People’s Republic of China, but instead make repairs of “Magic Land” kids’ café. In addition the borrower had bought different household items and as a result failed to meet his contractual obligations. As a result “Ararat Bank” Open Joint Stock Company suffered loses of AMD 68,802,720 equivalent to USD 168.000.
The defendant was charged under Article 191 of the RA Criminal Code and signature not to leave was chosen as a preventive measure. K.Hakobyan, the representative of the injured party informed that the bank employees conducted monitoring, which revealed that not a single playing machine was imported for the kid’s cafe. This meant that the loan was not used for its direct purpose, and as a result the bank suffered and is still suffering gross losses.
Several employees of “Ararat Bank” appeared as witnesses and informed that Martirosyan had not notified them in any from (written or verbally) that he would have directed USD 52.000 for repayment of the pledge in another bank, which was the property that should have been pledged in “Ararat Bank”.
The defendant was recognized guilty under Article 191 of the RA Criminal Code and was appointed punishment of imprisonment for the term of 2 years.
L.M.’s defender appealed the decision in the Court of Criminal Appeals.
Note: The suspect or the accused of the alleged offence is deemed innocent unless his or her innocence is proved by virtue of the effective court verdict in the manner prescribed by the Criminal Procedure Code of the Republic of Armenia.
L. Mamyan
