YEREVAN (News.am) – Armenian President , Chairman of the Board of Trustees of the All-Armenian Hayastan Fund Armen Sarkissian on July 10 sent a letter to the members of the Board of Trustees and recommended to accept the letter of resignation of the Fund’s Executive Director Ara Vardanian, who submitted it the day before.

At the same time, President Sarkissian proposed that the member of the Board of Trustees, Chairman of the Fund French Affiliate Bedros Terzian temporary assumes the duties of the Executive Director. He also proposed to announce a competition for the vacant post of the Fund’s Executive Director.

Towards this end, it has been proposed to create a competition commission headed by Bedros Terzian. The Commission will comprise one representative of the President of Armenia, one representative of the Prime Minister, one representative of the President of the Republic of Artsakh and the member of the Board of Trustees Albert Poghossian.

Hayastan All-Armenian Fund’s executive director Ara Vardanian submitted resignation on Monday, one week after being accused of embezzling its funds and after continued scrutiny and pressure, most recently from the Social Democrat Hunchakian Party – Western USA Executive Committee.

Armenia’s National Security Service (NSS) arrested Ara Vartanian, who has managed the Hayastan All-Armenian Fund for the last ten years, on July 3. It said that he admitted using money mostly donated by the Armenian Diaspora for online gambling and other “personal purposes.”

 

 

 

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