Armenia arrests former state property official on suspicion of fraud

Tue 04 Dec 2018 10:01 GMT | 14:01 Local Time

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A former deputy director of the Department of Armenia’s State Property Management has been arrested on suspicion of misconduct and fraud, local media reported.

The general prosecution said that the former official is suspected of filing false data and alienating state property to a private company for less money than its actual market value.

A 1881 square meter water canal with an additional 0,1968 hectares of land, was alienated to the company for 22.695.306 drams, when its actual market value is 244.600.000 drams.

The investigation continues.

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