Ara Vardanyan, Director of the Hayastan All-Armenian Fund, was detained on July 2 on the basis of operative data received by the National Security Service of the Republic of Armenia, as well as , on suspicion of abuse of authority and misappropriation of money.

Under the circumstances, Vardanyan confessed that by managing the 25 million dram credit card issued to the fund, he used the funds for personal purposes, including directing them to various online casinos bets.

According to him, Vardanyan returned funds back to the accounts of the Fund, thus concealing the fact that the funds had been seized.

Only in the last week Vardanyan transfered about 14 million drams from the bank card to online casinos, and from 2016 to 2018 this sum made about 130 million drams.

Currently, the Hayastan All-Armenian Fund is conducting checks on revealing potential misuse and misappropriation, as well as on the legality of the spent money.

Ara Vardanyan has been arrested. The preliminary investigation is ongoing.

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