Diaspora businessman swindled and cheated in Armenia
Serzh Sargsyan's brother Levon Sargsyan is involved in at least one large-scale fraud, "Zhamanak" daily editor Arman Babajanyan said on Friday.
With the participation of Levon Sargsyan, US Armenian businessman Edmond Khudyan, who invested over 5 million dollars in Armenia, was made bankrupt.
Who are Levon Sargsyan's ‘accomplices'?
Vice President of the Chamber of the Advocates Nikolay Baghdasaryan named businessmen Vladislav Mangasryan and Edik Yesayan who appropriated Khudyan's properties without his knowledge and pocketed millions of dollars.
According to Arman Babajanyan, Levon Sargsyan is the ‘godfather' of this trickery.
"It was Levon Sargsyan who introduced Vladislav Mangasryan to Edmond Khudyan and sponsored all illegal transactions throughout that time," said the chief editor of Zhamanak daily.
Edmond Khudyan, who was participating in the news conference via Skype also gave the name of Serzh Sargsyan's brother saying he ‘made investments in Armenia on Sargsyan's advice.'
What happened in reality?
Edmond Khudyan invested 5 million dollars in Armenia and developed a high-rise building in the center of Yerevan. His partner and contractor was Vladislav Mangasryan. Khudyan appointed Edik Yesayan, his long-time friend, as director of the company.
In 2010, Vladislav Mangasryan, and EdikYesayan mutually decided to sell the flats and pocket the money without Khudyan's knowledge. Later they claimed that it was done to save the company from bankruptcy, for everybody's benefit.
Since then E. Khudyan placed several lawsuits against the parties to return stolen properties and to bring them to justice but those efforts have been unsuccessful.
The lawyers today presented two similar cases of swindle masterminded by the same people. They are going to establish a foundation that will defend the rights of Diaspora businessmen.
