Within the framework of a complex and effective investigation conducted in the Investigation Department of the National Security Service of RA, factual data were obtained that from May 18, 2009 to July 20, 2018, Ara Vardanyan, holding the position of Executive Director of the Hayastan All-Armenian Fund established by the Republic of Armenia, with the aim of misappropriation of the property of the fund on a particularly large scale, with the assistance of the director of one of the economic entities, drew up, approved and signed fake contracts for the supply of furniture worth 292.833.540 AMD for secondary schools in the regions of the Republic of Artsakh and the city of Stepanakert, as well as acts of delivery and acceptance of furniture, on the basis of which an especially large amount of 292.833.540 AMD was transferred from the fund’s account to the current account of the company, which, by mutual agreement, was stolen by misappropriation, and the property provided for by the agreement was not delivered to the general education schools of the regions of the Republic of Artsakh and the city of Stepanakert.

In addition, Ara Vardanyan, ex officio being an official with functions of organizational, management, as well as administrative and economic functions, on November 21, 2014 concluded a pledge agreement with Converse Bank CJSC for the provision of a limit on a credit card, and as a means of securing a loan in the same bank pledged the contribution of the Moziyan fund in the amount of 28.000.000 AMD, which was on the account of the fund, and received a credit line in the amount of 25.000.000 AMD from the credit card with an interest rate of 19.10 per annum with a term repayment by January 15, 2019.

Then, with the intent of using his official position contrary to the interests of the service and for mercenary purposes, he used part of the funds belonging to the fund not for the purposes defined by the charter, but for his personal needs, namely, from January 8, 2016 to June 29, 2018 with the sole intent, in order to place bets in the online casino "www.pokerstars.com" and "www.quasargaming.com", as well as to meet other personal needs, from the funds of the credit line available on the above-mentioned card account, he transferred to casino accounts or cashed out a total of 136.754.357,29 AMD, as a result of which the bank charged a fee of 230.476,94 AMD for the above transactions.

By these actions, Ara Vardanyan caused significant damage to the Hayastan All-Armenian Fund, which, through negligence, caused grave consequences, namely, the contribution of the Moziyan Fund in the amount of 28.000.000 AMD, which was on the account of the fund, was pledged in Converse Bank Closed Joint-Stock Company, as a result, during this period, the fund was deprived of the opportunity to use this money for social, charitable, cultural, educational, scientific, health, environmental or other socially beneficial purposes, and the reputation and good name of the fund suffered, as a result of which, significantly fewer donations were raised for the foundation in subsequent years.

For the commission of the above acts, based on a body of sufficient evidence obtained during the preliminary investigation, on charges of embezzlement of an especially large amount by misappropriation, complicity in the theft of an especially large amount of money, abuse of official powers and commission of forgery by the body conducting the proceedings, criminal prosecutions were initiated against the former executive director of the Hayastan All-Armenian Fund Ara Vardanyan and the director of the economic entity.

On April 13, 2021, the criminal case against the mentioned 2 persons with the indictment was sent to the prosecutor in charge of the procedural management of the preliminary investigation, to approve the indictment and send the case to court for consideration on the merits.

Note: The suspect or accused of an alleged crime is considered innocent as long as his guilt is not proven in a manner prescribed by the Code of Criminal Procedure of RA - by the court decision entered into legal force.