"Zhoghovurd": The head of the presidential administration’s Oversight Department the controls package of Armbusinessbank

Well-informed sources of "Zhoghovurd" inform that the head of the presidential administration’s Oversight Department, Hovik Hovsepyan, has purchased the controls package of Armbusinessbank.

According to "Zhoghovurd" the transaction was reportedly carried out by Hovsepyan’s brother, Hakob, who turns out to be the package’s owner. But a spokesperson has denied the report, saying that Hovsepyan works at the presidential office and has no relationship with the bank.

Hovsepyan’s brother is now negotiating the bank’s purchase. It claims, citing its sources, that the sides have completed the deal, with Hovsepyan’s family having acquired its own share. To note, that Hovsepyan was earlier away from the country over charges of swindling.