Published since
Published on September 03, 2007
HAYPOST UNCOVERS ANOTHER CASE OF CONFLICT OF INTEREST RESULTING IN MORE THAN AMD 167 MILLION LOSSES
As part of the series of internal investigations ordered by HayPost management, the company uncovered and announced today that since 2001, HayPost had rented a number of trucks for transportation of postal goods and services to and from the border of Iran at Meghri and from the border of Georgia at Sadakhlu.
One of the transport-related contracts has been with “Kojor Telecom Ltd” which is alleged to belong to a high ranking Government of Armenia official. The remaining other contracts were with “HSG Trans Ltd” and “Araks Electronics Ltd.” It is alleged that both these companies belong to a former HayPost Director. All contracts with these three Armenian companies were signed by the immediate past Director General of Haypost.
The minimum costs related to these contracts indicate that more than 167.000.000 AMD (equivalent 500.000 USD) were misused and misappropriated.
HayPost immediately reported its findings to the Law Enforcement Authorities of the Republic of Armenia.
© Lragir
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As part of the series of internal investigations ordered by HayPost management, the company uncovered and announced today that since 2001, HayPost had rented a number of trucks for transportation of postal ...
© Lragir
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