Head of credit organization and his subordinates accused of fraud and embezzlement

YEREVAN, June 17. /ARKA/. Armenia’s Investigative Committee has accused today the head of Mega Credit organization and some of his subordinates of embezzlement and fraud, asking all those citizens who may have suffered from their fraudulent scheme to contact it.

The Investigative Committee said it was working currently to clarify all the circumstances of fraudulent activities and find out the circle of people affected by them.

It said in April 2020, several citizens who had applied to Mega Credit for a loan, turned to law-enforcement bodies to report that part of the money they were to receive as loans had been stolen.

A criminal case was opened on the grounds of fraud. According to investigation, the head of the credit organization and his subordinates advertised their mediation services on Facebook social network, offering their help in receiving loans from banks and credit organizations, demanding in return 30% of the loan amount as payment for the service.

The head and his subordinates filled out online applications on behalf of citizens, however in one case they paid only half of the loan amount to the client, and in the other they did not transfer money to the borrower at all.

A suspect or accused of an alleged crime is presumed innocent until proven guilty according to a court ruling that enters into legal force in the manner established by the Code of Criminal Procedure of Armenia. -0-

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