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Lusine Hakobyan

Court Acquits Former Armenian President Sargsyan In Fuel Embezzlement Case

A Yerevan court today found former Armenian President Serzh Sargsyan not guilty of charges that he masterminded the embezzlement of 489 million drams (just over $1 million) in 2013 from a state-sponsored diesel fuel assistance program.

The charges date to the spring of 2013, when the Armenian government approved a State Assistance Program for the purchase of diesel fuel at affordable prices for agricultural activities.

It was alleged that Sargsyan meddled in the government fuel tender process so that Flash, a company whose owner was closely linked to Sargsyan, won the bid.

According to the Special Investigation Service (SIS), the government could have purchased the fuel from Maxhur, another supplier, at a lower cost, thus saving AMD 489 million.

Sargsyan always maintained the case against him was “politically motivated” and   the tender was above-board because only Flash met the bidding requirements set by the Ministry of Agriculture.

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