When Aram Harutyunyan was the Kotayk Provincial Governor (currently Chairman of Armenia’s State Committee of Water Economy), he funneled millions of AMD in state aid to companies he owned.
To be precise, Harutyunyan channeled 240 million AMD out of 731 million that the government allocated to Kotayk in 2014 targeting communities and the problems they faced.
Take the company Nairishin Ltd, in which Harutyunyan is a shareholder. It received a 35 million AMD contract to renovate the school in the community of Zovouni.
Harutyunyan wasted no time for the above contract. He was appointed Kotayk Governor in May of 2014 and he signed a contracted with Nairishin on July 18.
The newly appointed governor signed three contracts, totaling 90 million AMD, with another company of his – Nairi JShSh. After the road construction company went private, Harutyunyan obtained 99.9% of the stock.
Harutyunyan signed a 23 million AMD contract with Nairi JShSh to renovate the municipal roads in Yeghvard.
There was also a 51.6 million AMD contract with the company to renovate the Geghi-Karashamb road. Lastly, there was a 20 million contract to rebuild the local roads in Teghenk.
Aram Harutyunyan has a history of using his office to underwrite his business interests.
In 2007, Harutyunyan was appointed Armenia’s Minister of Nature Protection. The following year he founded a company called Underkaber that operated a basalt mine in Spandaryan. The company wounded up owing 10.6 million AMD to the state.
The company received a license to operate the mine when Harutyunyan was environment minister.
The fact that Harutyunyan owns an interest in a number of companies is evidenced from his financial disclosure statements where he lists the dividends from his shares.
When he left the position of environment minister, Harutyunyan declared more than US$1 million in cash resources. His revenues (salary, rent, dividends, etc) amounted to 11.5 million AMD.