Newsfeed

Deputy Speaker of Armenian parliament: Azerbaijani lawmaker's proposal on joining Syunik region to Azerbaijan is absurd

Head of Armenian parliamentary committee: Armenia can buy weapons from any country it wishes

New Bill on military service to be put on agenda of Armenian parliament in 10 days

Source in General Staff of Azerbaijan says April aggression cost Azerbaijani army 800 soldiers

Turkologist: Reason behind Davutoglu's resignation was his increased authority in the West after the "migration deal"

Russian Foreign Ministry official representative: Status of Nagorno Karabakh should be determined on the basis of a legally binding expression of will

K-Telecom takes a decision to cancel fines imposed on subscribers of Artsakh

VTB Bank (Armenia) funds restorative treatment for 60 children suffering ICP

Artsakh Defense Army considers Azerbaijan's statement about its readiness to start military operations 'at any moment' to be silly

Bill on recognition of Artsakh's independence to be discussed in Armenian parliament neither at upcoming extraordinary nor four-day sessions

Beeline changes its real estate sales conditions

Unpunished "odometric" fraud as source of wealth of Armenian security forces

German MP: Bundestag to approve resolution on Armenian Genocide on June 2

Arman Melikyan: Without Aliyev in power in Baku, Moscow will have to forget about its control over South Caucasus

Armenian Prime Minister: Government is ready to support mining sector enterprises

Yerevan: Government has not approved bill "On Recognition of the Republic of Artsakh"

New service from VivaCell-MTS: "Deactivation of Internet roaming"

Moscow hopes Karabakh conflict parties will evade steps that can break fragile truce

Yazidis of Armenia ask President and Prosecutor General of Armenia to release Jndi Amaryan

Azerbaijan's Foreign Minister welcomes Lavrov's stance on Bill recognizing Nagorno-Karabakh's independence

Desir about Karabakh conflict: Sides do not wish to return to negotiations table

Ucom is awarded "Top Employer Armenia 2016"

Defense Ministry of Azerbaijan creating more reserves for longer war and declares re-enlistment

Zaruhi Postanjyan has received calls from other countries' foreign ministries about their willingness to recognize independence of Artsakh after Yerevan

MP: Recognition of NKR's independence will not result in a new upsurge in violence

Political analyst: Creation of mechanisms to inquire into incidents on border will work in Baku's favor and help it break the deadlock

Armenian Government approves a conclusion on bill "On Recognition of the Republic of Artsakh"

Artsakh Foreign Minister: Successive international recognition of Artsakh will launch in the nearest future

Yerevan stands for implementation of confidence building measures and expansion of authorities of team of Personal representative of OSCE Chairman-in-Office

From now one Beeline subscribers can make free calls to service center from anywhere in the world

Russian analyst says Levon Ter-Petrosyan's "groundwork on Karabakh" may become useful

Economy Minister assured that he will make every effort to save Nairit Plant

Seyran Ohanyan holding close meeting with MPs in Armenian parliament

Richard Giragosian says Azerbaijan's new attack on Artsakh is a matter of time only

Nubarashen penitentiary head's powers temporarily terminated

Microsoft representative rates cyber security level in Armenia as average

Iran's Ambassador to Baku says his country supports Karabakh conflict's settlement on basis of territorial integrity principle

David Babayan: Armenia should not be the first country to recognize the NKR

Expert: Karabakh conflict zone to experience even more escalation

Azerbaijani media: Russian arms supply to Azerbaijan continues

Karabakh conflict should be resolved locally, Director General of the United Nations Office at Geneva says

Baku: Recognition of Karabakh's independence will put an end to OSCE Minsk Group process

It becomes known who of Armenian lawmakers is victimized by blackmailers

Director of Analitik.am detained on suspicion of blackmailing

Garo Paylan says he has underwent violence because he is Armenian

Government of Armenia to discuss Bill recognizing independence of Nagorno Karabakh

The last breathe of bankrupt Nairit Plant: once chemical giant will remain without employees on July 1

Artsrun Hovhannisyan: Armenian armed forces constantly replenished with ultramodern weapons

Armenian Defense Ministry Spokesperson: Azerbaijani side is pulling more forces and military hardware to Line of Contact

On May 9, Veterans of the Great Patriotic War can travel by South Caucasus Railway electric train free of charge

Regional

National Security Service must seriously look into Unibank's financial flows, says owner of Old Erivan Restaurant

  • by Alexandr Avanesov

  • Tuesday, July 1, 22:34

 National Security Service of Armenia must seriously look into Unibank's financial flows, Manvel Ter-Arakelyan, the owner of Old Erivan Restaurant, told reporters, on 1 July.   

He said a bank with a similar name operates also in Azerbaijan, therefore, his company applied to the National Security Service (NSS) on 10 June for an inquiry into the fact. Ter-Arakelyan stressed that there can be no two banks with the same name in the world. In addition, he said, the NSS must look into the activity of Hugo Minderhoud, a citizen of the Netherlands, who had headed the Board of Directors of a big Azerbaijani bank for 7 years (2000-2006). For some unknown reason, he left his job, arrived in Yerevan and now heads Unibank's Department for Internal Audit and Risks.  "It is the same as if my executive officer moved to Baku and sold khinkali there, which is unreal," he said. Ter-Arakelyan recalled that the Department for Internal Audit deals with nearly all the financial flows, including in the territory of Nagorno Karabakh, where Unibank has two branches. It is noteworthy, he said, that the bank removed all the data on the Dutch citizens from its official website on 20 June. A  relevant request was submitted to the NSS of Armenia 20 days ago, but no reply has been received yet.

The businessman is sure that the NSS must look into another offshore scandal involving the bank. At the beginning of the year, 43% of the bank's shares belonged to a certain person registered in Cyprus offshore.  Another 12.285% of shares belonged to the owner of the bank Gagik Zakaryan and his partner, certain Peskov. However, in early 2014, all them sold their shares to that very offshore company in Cyprus.  Actually, Zakaryan sold his shares to himself, gained extra profits and continues to head the bank. "All of us remember the offshore scandal involving ex-PM Tigran Sargsyan. Do these two deals differ from each other? " Meanwhile, Ter-Arakelyan thanks Prime Minister Hovik Abrahamyan for the efforts to settle the dispute between his restaurant and the bank. "No results, so far, " he said.

To recall, Prime Minister Abrahamyan earlier expressed an intention to put an end to the growing conflict between Old Erivan Holding and Unibank. The prime minister told reporters that he received Manvel Ter- Arakelyan once again lately and discussed a possible peace treaty with the bank.  The conflict between Unibank CJSC and Old Erivan Holding LLC has moved from the administrative to the criminal field.  Unibank CEO Vardan Atayan and the owner of Old Erivan Manvel Ter-Arakelyan have sued each other.  The trials are held at the General Court of Kentron and Nork-Marash Administrative Districts, Yerevan.  Earlier, Manvel Ter-Arakelyan has repeatedly mentioned in his interviews that the company was recognized bankrupt intentionally, hinting at an attempt of illegal takeover of his company by some Canadian Armenians and a group of local officials by means of the bank. 

According to hetq.am website of investigator-journalists, on 25 May 2009, Unibank and Old Erivan Holding made a credit agreement with a 2-year grace period for the interest and the main amount of the credit. The owner of the holding says the bank sent him two options of repayment schedules: a short-term (nearly 44 million drams monthly) and a long term (32 million drams monthly). Ter-Arakelyan chose the second option and signed the agreement. Later, he found out that the bank delivered him the first option by mistake. Afterwards, the bank admitted its mistake and sent the second option, which was also signed by Manvel Ter-Arakelyan.  "Actually, two agreements were signed, but only the one that was signed the last (the second option) is valid. They knew very well that the first option was invalid," Ter-Arakelyan said.  Afterwards, Ter-Arakelyan, went on, he received an offer from another bank on more preferential terms and decided to redeem the credit provided by Unibank.

Unibank agreed to admit the money. However, approximately in a month, on 17 June, the bank notified Old Erivan Company that they did not fulfill their liability to the bank and failed to pay nearly 44 million drams on 25 May as required. Therefore, the bank notified that the mechanism of fines and pennies was launched.  "It turns that the first option of the agreement is valid and I have to pay 44 million drams. In such case, why the bank charged also the amount stipulated in the second agreement from my account? In addition, there is 305,000 drams balance on my account. If, as you [Unibank - editor's note] say, I was to pay 44 million drams, then there should not be any balance on my account. You should have charged the entire amount, and it would not be enough. Meanwhile, you notify me of fines," says the owner of the holding.  According to him, Unibank CEO Atayan on the basis of the first agreement applied to the 6th Department of the Police and claims that Manvel Ter-Arakelyan fabricated the bank's seal and his own signature to seize Unibank's funds.  "He [Vardan Atayan - editor's note] casts doubt on my signature and the bank's seal under the second agreement. He will answer for such allegations. We have applied to the Prosecutor's Office over it," Manvel Ter-Arakelyan said.

Meanwhile, Unibank has disseminated a statement wherein it accuses the owner of Old Erivan Holding for organizing a "Black PR campaign" against the bank to evade the credit repayment.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields