YEREVAN, April 14. /ARKA/. The Investigative Committee of Armenia has disclosed the circumstances of embezzlement of $450,000 in one of the local banks, and two citizens are charged with the crime, the press office of the committee reported on Tuesday.

It has become clear in the preliminary inquiry that the director of one of the closed joint stock companies told his friends that he would like to borrow money from a bank for doing business.
The friends put him in touch with A. Ghukasyan, who took the company's papers promising to arrange a loan.

Ghukasyan made an arrangement with D. Matevosyan, a credit specialist at one of the banks, promising $40,000 to him in the event of success.

In accordance with the arrangement, Matevosyan gave appropriate papers to Ghukasyan for submission to the bank.

The bank extended a $450,000 loan secured by the submitted papers to the company director.
The latter took $25,000 of this amount without knowing that the pledged property was acquired with forged papers, and the remaining amount was given to 'the broker', Ghukasyan.

According to the press release, on February 27, 2013, Matevosyan received AMD 16,360,800 (amount equal to $40,000) through other 'broker'.

Matevosyan was arrested in charge of abusing official position and committing gross fraud and will remain in detention pending trial, and Ghukasyan is wanted but still at large.
Investigation is under way now. --0--