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Youth Foundation of Armenia Former Director Gets Ten Years for Embezzlement

Yerevan’s Criminal Court, on December 2, sentenced Alexander Ter-Hovakimyan (former Executive Director of the Youth Foundation of Armenia) to ten years imprisonment for embezzling 325.6 million drams from the NGO established in 2001 by the Armenian government.

The funds  ($825,000 according to today’s exchange rate) were embezzled from April 2013 to May 2018.

The foundation was dissolved in 2019, soon after a criminal case into the matter was launched.

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