Hermineh Naghdalyan's Interest Rate

8 apartments of the block at 14/3 Gevorg Chavush Street, Yerevan, are still handled by the vice speaker Hermineh Naghdalyan, and her husband Davit Beglaryan, ex-head of the tax service of Artashat. The management of Norashen 2007 residential building had received advance payments from their beneficiaries. However, the management faced shortage of money and pledged the apartments to different persons to borrow money from them to finish construction.

They borrowed money from Hermineh Naghdalyan and his husband against14 apartments pledged as collateral. 6 owners have been able to get back their apartments, 8 are still handled by the spouses. The managers of Norashen 2007, Lusabek Samvelyan and Armen Tadevosyan who are arrested now claim that they borrowed 300,000 dollars from them and pledged 14 apartments as collateral, whereas the spouses claim that they bought the apartments paying 260 dollars per sq m.

The beneficiaries say the company sold the apartments for 500 dollars per sq m so why should they have agreed to sell them to Naghdalyan for 260 dollars. The arrested managers of the company also state the same thing. In the beginning the prosecutor’s defined the case as usury but a week later the charges were dismissed. Mkhitar Hambardzumyan, an affected beneficiary, told the reporter of Lragir.am. His apartment now belongs to Naghdalyan and her husband.

The deceived beneficiaries filed a suit, demanding back their apartments. Mkhitar Hambardzumyan says Naghdalyan and her husband demanded extra money from them to return their apartments. From him they demanded 5000 dollars. He has met with Hermineh Naghdalyan’s husband twice, he told him he would agree to buy the apartment from Mkhitar for 15,000 dollars or could sell him the apartment for 5000 dollars. He declined this offer because he had paid 23,000 dollars in advance to buy an apartment and now he would lose 8000 dollars.

Earlier the deceived citizens had informed that other officials are involved in this fraud, namely Razmik Avagyan, the head of legal department of the SRC. The citizens say before the arrest of the management of Norashen 2007 the officials who had lent money with interest did not hide that they lent money for interest. After their arrested they announced that they had bought those apartments. 25 citizens are still fighting to get back their apartments.