Former Top Managers of Metsamor Nuclear Power Plant Prosecuted For Fraud

YEREVAN — The former director general and three other senior executives of the Metsamor nuclear power plant will go on trial soon on charges of serious fraud, Armenia’s National Security Service (NSS) announced on Thursday.

According to a statement, issued by the NSS, the investigation established that the CEO of the facility Gagik Markosian, commercial director Rubik Movsisian, deputy CEO M. Movsisian and Eduard Ghazarian, head of repair and supervision department, stand accused of embezzling almost 784 million drams ($1.6 million) while administering procurements commissioned by the plant.

“The crime has been solved and the damage caused to the state in the amount of 784 million drams was fully recovered. The criminal case has been sent to court along with the indictment,” the statement said.

Markosian resigned as Metsamor chief executive in December 2014 following the arrest of Rubik Movsesian, the plant’s commercial director and one of the four men charged in the fraud case.

The Armenian Nuclear Power Plant located about 40 kilometers west of Yerevan was designed and built in the 1970s. Its sole functioning reactor generates more than one-third of Armenia’s electricity.