DEFENSE MINISTRY SPOKESMAN UNAWARE OF HOW SCC IS USED

Since 2012 Armenia’s Defense Ministry has held 75% of the shares of
the Karen Demirchian Sport and Concert Complex (SCC) CJSC in Yerevan,
according to “Zhoghovurd”.

“The fact is that one of the brothers – co-owners of BAMO Company
owning the Yerevan SCC had pledged SCC shares to take out a loan of
$20 million from the Armenian government. He didn’t repay the loan
and the Armenian government had to transfer shares to the Defense
Ministry,” the paper says.

“Zhoghovurd” asked the Defense Ministry spokesman Artsrun Hovhannisian
how the SCC is used and for what purpose. By tradition, the spokesman
declined to comment.

20.06.2013, 13:23

From: Emil Lazarian | Ararat NewsPress