On December 2, 2024, the Criminal Court of First Instance of the city of Yerevan satisfied the petitions of the prosecutor and sentenced the former executive director of the "Armenia Youth Fund" (hereinafter, the former executive director of the Fund) to 10 years in prison and ruled: to confiscate 325 million 600 thousand drams from the executive director in favor of the Republic of Armenia (on behalf of the Armenian Youth Fund liquidation committee).
Let's remind that in the criminal proceedings investigated by the Investigative Committee, it was found that the former Executive Director of the Fund, during his work, from April 29, 2013 to May 22, 2018, partially withdrew cash from the Fund's bank accounts, and then stole funds belonging to the Fund. 325 million 600 thousand drams entrusted to him.
He legalized 226 million 464 thousand drams of the above-mentioned amount stolen from the fund by means of embezzlement by means of transferring it from account to account, disguising it and dividing it.
On January 24, 2019, the prosecutor initiated a public criminal prosecution against the former executive director of the Fund under Article 179, Part 3, Clause 1 of the Criminal Code adopted on 04/18/2003 (especially large-scale embezzlement) and Article 190, 3 According to point 1 of part 1 (legalizing the property obtained through criminal means, particularly of large size (money laundering)).
On April 30, 2019, the indictment was sent to the competent court along with the proceedings.
