The details of our investigation into the embezzlement in the ANIF fund have now reached the government discussions.
Last week, former Health Minister and now MP Arsen Torosyan posed a pointed question to Economy Minister Papoyan regarding the ill-fated ANIF fund, particularly focusing on the salaries being paid within it. It was a surprisingly sharp question. He cited publications in the press and directly asked whether these salaries existed, noting that while the state meticulously monitors every penny, reacting strictly to even a 1000 dram loss, billions are wasted without any repercussion. They said, “Well, it didn’t work out, let’s forget about it?”
Torosyan is an MP from the ruling party, and such framing of the question clearly shows that he is not aligned with the wing of power, led by the current Mayor of Yerevan. After all, Mayor Avinyan was the “godfather” of these funds, shielding the managers’ liberties and irresponsibility, and thus, bearing significant responsibility for the multi-billion dram embezzlement.
When referring to press publications, Torosyan was pointing to our articles, as no one else specifically addressed the issue with the size of salaries.
Unfortunately, Papoyan’s response was more like a ceremonial toast. He mentioned noticing ongoing investigations, which would likely continue, without any specifics.
He attempted to highlight that “not all projects were failures, with some still ongoing, and some potentially buyable by investors” – again, offering no concrete details.
Regarding salaries, Papoyan responded with typical bureaucratic irresponsibility: “…for this information, please contact ANIF…”. He should be reminded that, firstly, ANIF does not respond to inquiries, despite paying its public relations manager a million drams a month. Secondly, ANIF’s managers are themselves suspected of abuse and salary manipulation, making it unrealistic to expect any truthful information from them. Thirdly, this raises the question: is the Minister of Economy so indifferent to this issue that he did not even bother to collect information or summon these managers, even though his department directly oversees ANIF?
Papoyan then claimed, “There are no such salaries there,” This is where he should have stopped, but he continued. “There are average managerial salaries, ranging from 500 thousand to 1 million, sometimes a little more. But not in the millions.” This was a blatant lie in direct speech.
One should inquire ANIF Deputy Director S. Grigoryan about his salary and bonus for December 2023. Or about the salaries of the Board members, A.Nalbandyan and A.Dilanyan, who do not even reside in Armenia, much less fulfill any duties at all. Or bother E. Evoyan, who holds high positions in both ANIF and ARFI subsidiary funds and receives millions of drams from both. Regarding the CFO, S. Melkonyan, let’s just say that receiving such substantial salaries in both funds and bonuses, while managing personal tax practice., is a sign of serious talent.
For years, taxpayers have paid 35 people in the ANIF fund, and another 20 in subsidiary funds like ARFI, and E+S, leading to losses of at least AMD 12 billion. Yet Minister Papoyan thinks we can be satisfied with a toast instead of a real answer? In his closing remarks, the Minister spoke at length, about transparency, cooperation, trust, and patience. However, there has been no transparency; he could have clarified a lot of issues but chose not to, leading to a severe lack of trust
If you truly want to work together, release information, prosecute or engage in debate, and bring the ANIF managers out of hiding to answer the taxpayers’ questions. I’m ready, is he? I doubt it.
As for patience, it ran out a long time ago. Therefore, we will seek to hold the embezzlers accountable and make them return the money. If Minister Papoyan wants to participate, we will help him, but if not, he must answer which wing of the government he supports and who is to blame.
