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Special Investigation Service of Republic of Armenia
Former Police Officer Practised Usury Causing Serious Material Damage
2013-08-28

 By the materials prepared on the citizen S.H.’s report, the Special Investigatory Service of RA has revealed that on February 1998 S.H.’s acquaintance, former RA police officer Hovik Hovhannisyan lent him a sum of 5000 USD at a monthly interest rate of 10 % for 6 months having the apartment belonging to S.H. (address: Andranik Street, Yerevan) registered in his wife’s name as a money back guarantee.
From 1998 to 1999 S.H. paid the former police officer back all of the borrowed money (5000 USD) as well as the interest of 2100 USD having a remaining debt of 400 USD. To get the given amount of money back Hovik Hovhannisyan mortgaged S.H.’s apartment registered in his wife’s name and kept the borrowed amount of 10 000 USD as interest on the debt of 400 USD, thus imposing the loan repayment on S.H., which caused serious material damage to the latter.
A criminal case has been initiated on the incident by the Special Investigatory Service of RA according to the Criminal Code of the Republic of Armenia, Article 213, part 2, point 1.
Investigation continues.


Notice: A person suspected or accused of a crime is presumed innocent until proved guilty in the procedure established by the Criminal Procedure Code of RA by the effective court judgement.