‘A loan of 8.5 million drams was issued in my name, but I have no connection to this transaction’: Arman Mikayelyan

May 13 2025, 16:00

Economy and Business

Armenian citizens who became victims of bank fraud staged a protest outside the Central Bank of Armenia. One of the protesters, Arman Mikayelyan, told Alpha News that he was defrauded due to IDBank’s actions. On December 21, 2024, he received a message from the bank stating that a loan of 8.5 million drams was issued in his name at 24% per annum with a repayment term of five years.

“The loaned amount was transferred to 17 accounts, most of which belonged to IDBank subscribers. I had nothing to do with this loan transaction. A month and a half before this incident, I had applied to the bank for a car loan but my creditworthiness was low. A month and a half later it turned out that a loan of 8.5 million drams was issued in my name without my presence, without identification and without signing the agreement,” Arman Mikayelyan said.

The Investigative Committee has launched a criminal case regarding this matter. According to Mikayelyan, IDBank has been recognized as a victim. At this stage, the loan remains unfrozen.