Director of Hayastan All-Armenian Fund Ara Vardanyan released on bail  of 1 million AMD

ArmInfo.Director of the Hayastan All-Armenian Fund Ara Vardanyan was released on bail of AMD 1 million on July 5.

The investigative department of the National Security Service of  Armenia applied for the arrest of Vardanyan, but, according to the  lawyer of the last Yervand Varosyan, the investigator also did not  object to the pledge as a preventive measure against the director of  the Hayastan fund. At the same time Vardanyan does not admit his  guilt and denies the appropriation of the fund's resources, as well  as abuse of office.

Recall that on July 3, the director of the Hayastan Fund, Ara  Vardanyan, was detained by representatives of the National Security  Service.  As previously reported by the press service of the National  Security Service, the director of the fund under pressure admitted  that he owned the credit card granted to the fund with a credit line  of 25 million drams, which he used for personal purposes, including  during bets in online casinos. However, Vardanyan also noted that he  returned the money spent from the credit card at the expense of the  amounts that were donated to the fund. Vardanyan also transferred  personal cash to the accounting department and concealed the fact of  appropriation of the fund's resources. . From 2016 to 2018 Vardanyan  transferred about 130 million drams to on-line casinos.

However, Vardanyan's lawyer stated that the investigation had no  grounds for detaining his client, since his actions lacked the  composition of the crime, therefore, he cannot be held accountable.  Moreover, according to Varosyan, the director of the fund

"Hayastan" of its activities did not cause damage to the  organization. Also, Varosyan stated that no funds were being made  from the fund's resources. The lawyer noted that the fund has a  credit line and a credit card through which payments were made, but  then, cash was returned to the site. And this is in no way connected  with the fund's donations.

In the Diaspora, through telethon and other means, donations were  collected, and the fund was financed by social programs in Armenia  and Artsakh. According to the report in 2017, the fund spent more  than 5 billion 700 million drams.