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Armenia’s Deputy Economy Minister Reportedly Among Those Arrested in Corruption Probe

Armenia’s Deputy Economy Minister Reportedly Among Those Arrested in Corruption Probe

Armenia’s Investigative Committee disclosed more details about its corruption bust today. Jointly conducted by investigators and the National Security Service, the operations are part of two distinct criminal proceedings.

In the first case, officials from the Ministry of Economy are under scrutiny for alleged abuses of power. Preliminary investigations indicate that, with prior agreement, they manipulated a tender for the procurement of the service "Establishment of the Bank of Public Investment Projects." The officials, in collusion with a joint-stock company, created conditions favoring one participant while unjustly sidelining another. This maneuvering resulted in a substantial financial loss to the state.

Six individuals have been apprehended as a result of these actions.

In addition, an official from the Ministry of Economy is implicated in fraudulent activities related to the state support program for establishing intensive gardens. The official allegedly facilitated unwarranted financial compensation to beneficiaries who did not meet the program's requirements. The fraudulent scheme led to an embezzlement of AMD 238,418,100 ($591,802).

The case is ongoing and the arrested individuals will face legal consequences for their alleged involvement in these corrupt practices, reports the government.

Simultaneously, the arrest of Deputy Minister of Economy, Ani Ispiryan, adds another layer to the corruption saga. Ispiryan's detention, confirmed by the Ministry, comes amid the broader investigations. The Ministry emphasized its commitment to the fight against corruption and the presumption of innocence.

Details surrounding Ispiryan's arrest and dismissal from her position a day earlier remain unclear. Minister of Economy, Vahan Kerobyan, indicated that her departure was unrelated to the ongoing investigation. The spokesperson for Armenia’s Investigative Committee, Gor Abrahamyan, neither confirmed nor denied Ispiryan's arrest but noted that searches were being conducted in multiple locations associated with the cases.


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