NSS on Oskanian

RA NSS launched a criminal case based on Clause 3 of Article 190 of the Penal Code of Armenia that defines extortion of major amount of funds (money laundering).

Investigation proceeds in relation to Polymer Materials and Huntsman International, US-registered corporations. Investigation is underway with respect to selling the 100% shares of the Huntsman Building Products Company for around US$ 2 million but not informing Armenia’s tax authorities about this business deal; not using for charitable purposes $1,135,000 of that amount envisioned for charity; transferring this amount to the bank accounts opened under the names of the Civilitas Foundation’s Founder and Chairman—and Armenia’s former FM—Vardan Oskanian, and of the Foundation’s Board of Trustees member Tigran Karapetyan; and using some of this amount for private purposes.

In addition, The Civilitas Foundation has not presented a report on the $2 million allocated for charitable purposes to Polymer Materials and Huntsman International.

Tax inspections and expertise are assigned to be conducted in the framework of the criminal case. The NSS applies its capabilities to disclose the circumstances of the case and to provide objective and multilateral probe.

Investigation is underway.