The director of Hotel Shangri-La, Mr. Armeen Kassardjan, in Ghana has denied all the allegations leveled against him in the MV DIANA III case currently before the Ghanaian Fast Track Court (FTC).
Opening his defense at the court presided over by Justice Paul Barffour Bonnie on the 29th of June this year, Kassardjan noted that all the roles he played and the decision he took in getting the vessel fit for tuna fishing on the Ghanaian waters were well known to Ashot Melkoumyan, his Russian partner. According to him, all the credit facilities acquired from the banks were used in offsetting the huge sums of debts incurred in running GAAS fisheries, a company established to manage the fishing vessel.
Kassardjan told the court that the company was currently owing him a debt of ¢1 billion with the necessary documentation presently with Deloite and Touche, auditors for GAAS fisheries. He confirmed earlier evidence that GAAS fisheries was established by Ashot, Karen Israelyan, another Russian, Alhaji Samir Kahi and himself with 31% shareholding each with the exception of Alhaji Samir, who had 7% shares.
However, Kassardjan told the court that the shareholding structure was later changed on the advice of the operation's manager of Mankoadze fisheries, a consultant for GAAS.
He noted that the consultant asked that the shareholding structure be changed to enable him acquire majority shares to suit the law, which was going to be passed in order to enable the company engage in tuna fishing.
The witness said the negotiations were done by the two Russian partners in the acquisition of the vessel from Russia and later sent through refurbishment, which was supposed to have been borne by Ashot. According him, when the vessel was imported into the country, it had lots of equipment missing and aged equipment on board the vessel, which needed a placement. He told the court that replacement of the equipment were made and the vessel was put in good shape to go fishing, but never had invoices on the refurbishment that Ashot made on the vessel, whiles in Russia.
Witness noted that after refurbishing the vessel, all the fishing expeditions operated were not profitable since there had always been losses in the business.
Kassardjan observed that differences arose, after Samir, Managing Director of GAAS fisheries refused to transfer money to Russia on the orders of Ashot, when the fishing vessel caught a full load in the last expedition on the high seas. Witness said even though the procedures of transferring monies abroad were followed, the differences never ended.
Kassardjan alleged that Ashot was at one time loading the vessel docked at the Tema Harbor with salt ostensibly to sail away, when the vessel was arrested.