New Charge Within Criminal Case on Alienation "Dzorahek" Property

New Charge Within Criminal Case on Alienation


Within the framework of the criminal case on the process of alienation of the property of "Dzorahek" CJSC, charges were brought against former mayor Yerevan, former Chairman of RA Public Services Regulatory Commission Robert Nazaryan, former members of the commission Shiraz Kirakosyan and Mushegh Koshetsyan. Nikolay Grigoryan, former Deputy Chairman of Commission, was arrested yesterday on suspicion of committing an act envisaged by the same article of RA Criminal Code.

The charge is brought against him for committing publicly dangerous acts envisaged by Part 2 of Article 308 of RA Criminal Code. According to RA Special Investigation Service (SIS), the latter, due to their personal interest in establishing privileges for a certain economic entity and based on group interests, abused their official powers in 2011, which inadvertently caused severe consequences.

"During the preliminary investigation of the criminal case, sufficient evidence was obtained that due to Robert Nazaryan’s actions, as well as those of the above-mentioned members of the commission, the tariffs for the sale of electricity generated from the hydroelectric power plant by "Dzoraget Hydro" LLC were doubled for 2012-2019, as a result of which "Dzoraget Hydro" LLC received an additional amount of 7,052,065,099 AMD from individuals and legal entities consuming electricity in Armenia. The preliminary investigation of the criminal case is underway," SIS statement says.

"Dzorahek" was transferred to RA Defense Ministry in 2002, and in 2010 it was sold to "Dzoraget Hydro" LLC for 3,600,000,000 AMD. According to the factual data obtained by RA SIS within the framework of the criminal case, "Dzorahek" was alienated by the confidential resolution of RA Government developed by RA Ministry Defense without observing a number of legal requirements, in particular, without mandatory property evaluation. As a result, the entire property with a market value of 4,646,400,000 AMD was sold to "Dzoraget Hydro" LLC lower than the real value by 1,046,400,000 AMD without proper evaluation of the market value.

It should be noted that according to the press release of RA Prosecutor's Office, according to the information received from RA State Property Management Department, the market value of "Dzorahek" CJSC property in 2010 should have made up 8 billion AMD as of December 2018, and about 12 billion AMD as of December 2018. According to the prosecutor's office, the HPP was alienated at a price 4 times lower. Significant damage was caused to the legitimate interests of the state causing severe implications. Former RA Defense Minister Seyran Ohanyan is involved as a suspect in the criminal case. The defendants in this case do not plead guilty.

Notice: A person suspected or accused of an alleged crime is presumed innocent until proven guilty in accordance with the procedure established by RA Criminal Procedure Code by a court judgment that has entered into force. It should be noted that "Dzoraget Hydro" LLC is now in the assets of "Energo Invest Holding" CJSC.


August 10, 2020 at 11:47