Wednesday, October 28, 2020

Armenia’s Archbishop Navasard Kjoyan charged with fraud and money laundering

-

On April 13,  a criminal charge was brought against Primate Vicar of the Araratian Pontifical Diocese of the Armenian Apostolic Church Archbishop Navasard Kjoyan for swindling and money laundering, levied against him after being questioned for eight hours by Armenia’s National Security Service (NSS).

The charges stem from Kjoyan’s alleged involvement in a Cyprus offshore business deal involving powerful state and business players in Armenia. One of those players is former Armenian Prime Minister Tigran Sargsyan.

According to the NSS, Kjoyanin in prior agreement with his godson Ashot Sukiasyan, deceived and defrauded businessman Paylak Hayrapetyan into investing $12 million in diamond mines Sukiasyan allegedly owned in Africa.

Hayrapetyan was told the money was to be used to increase production and to send the raw material to Armenia for processing.

- Advertisement -

The NSS statement also states that they acquired the rights to the property, valued at 11.442 billion drams, owned by Paylak Hayrapetyan and his relatives, and used the real estate as collateral to secure loans of 3.664 billion drams ($9 million USD) and 361.5 million drams.

The money was then deposited into an offshore account created specifically for money laundering. The NSS says that Kjoyan owned 33% of the company.

Archbishop Kjoyan has refuted the charges claiming that they are based on fantasy and do not correspond to reality at all.

Original article on massispost.com

- Advertisement -
- Advertisement -

MUST READ

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Guatemala seeks arrest of ex-minister linked to a $16m cash discovery

Guatemalan prosecutors are seeking the arrest of the former communications minister for ex-President Jimmy Morales on money laundering charges after finding a connection to...

Brother of ex-Pakistan PM Nawaz Sharif jailed for money laundering

Pakistan Muslim League-Nawaz (PML-N) chief and Opposition Leader in the National Assembly Shehbaz Sharif was sent to jail on Tuesday in a money laundering...

Indonesia sentenced stockbroker to life over fraudulent investment scheme

Renowned stockbroker Benny Tjokrosaputro was sentenced to life by the Jakarta Anticorruption Court on Monday evening for his role in a major graft scandal...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks