The Cyprus police arrested ex-share-holder and director of the Yerevan “Union Bank” Hovsep Galstian that was searched on suspicion of the embezzlement of 168 million drams. As “Azg” Armenian newspaper reports, at the Limassol local court it was brought the corresponding charge against him but after paying deposit of $80 thousand, Galstyan was released from custody before the process of his handing over to the Armenian authorities was completed. His passport was seized and he was obliged not to leave the country and to register in the police every day. At present, the General Office of Public Prosecutor of Cyprus considers the claim of the Armenian government on extradition of Galstian.
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