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Head of "VMG Group" arrested with fraud charges

  • Friday, January 18, 13:01

 The head of "VMG Group" CJSC, Vladislav Mangaseryan, was arrested in Armenia. He has become especially known after bankruptcy of a businessman from the Armenian Diaspora, Edmon Khudoyan.

As press-service of the Armenian Police told ArmInfo correspondent, Vladislav Mangasaryan, was arrested on January 17 after midnight by employees of the Nor-Nork department of Police. He was in the wanted list from January 16 with fraud charges. Mangasaryan has been sent to Nubarashen penitentiary. The details of Mangaseryan's case are not clear yet. However, it is supposed that he was arrested on Khudoyan's case. 

To note, the American-based Armenian businessman Edmon Khudoyan has been accusing Mangasaryan for being a member of the criminal group that embezzled $8.5 million equivalent real estate property and $1.5 million equivalent sums from his "Arin Capital" investment company he established in Armenia. He said that the criminal group is under the patronage of the Armenian president's brother, Levon Sargsyan. However, when talking to ArmInfo correspondent, Levon Sargsyan disproved these accusations calling them false. "I have nothing in common with the deeds which Khudoyan has been trying to blame me for. Today any man may accuse another one without proof", - Sargsyan said. When commenting on Khudoyan's initiative to appeal to the European Court for Human Rights, Sargsyan said that is his own right and he can do what he wants.

To note, earlier Mangaseryan said at the press-conference that he is an honest man and has nothing in common with any criminal groups.

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