Trusted Press Release Distribution   Plans | Login    

Briefing Search
Keyword:
Category:

       

    
Author Details
Bill Mavridis
bmavridis@gmail.com

Bookmark and Share
Global Gold Corp. (GBGD) Leaves Local Armenian Villagers With Broken Promises
In 2008 GBGD received advances of $3,500,000. The money was supposedly used for its operations in 2008 but the local labourers from the Village of Melik and regional contractors were left with unpaid salaries and fees for the worked they performed

BriefingWire.com, 1/01/2014 - Montreal January 1, 2014: In my recent blog covering the exploits of Global Gold Corp. (GBGD) of Rye, NY., and their operations at their shuttered Toukhmanuk Gold Mine, located in the Republic of Armenia, I present to you the story of the local villagers of Meilkgyugh Village.

[URL]http://gbgd-armenia-mining.blogspot.ca/2014/01/ashot-poghossyans-new-years-message-to.html[/URL]

Ashot Poghossyan's New Year's Message to the People of Melikgyugh Village in Armenia: "Let Them Eat Coreg"

http://gbgd-armenia-mining.blogspot.ca/2014/01/ashot-poghossyans-new-years-message-to.html

Upon being alerted that the people of Melikgyugh Village were suffering due to widespread bread shortages, Mr. Ashot Poghossyan, Global Gold Corp's country manager in Armenia is said to have replied, "Let them eat coreg."

Like the disconnected rulers of old France, King Louis XVI and his Queen, Marie-Antoinette, lived in lavish homes and their subjects lived in abject poverty, and declared that if the poor have no bread they should eat brioche;

Global Gold Corp's. (otcqb: GBGD) country Manager and Operator of the TOUKHMANUK GOLD MINE, Mr. Ashot Poghosyan, too lives in a large and beautiful Villa in Gosh, but fails to pay his employees who have no money to afford to buy coreg.

The local Villagers at Melikgyugh ("Melik") who worked at the Toukhmanuk Gold Mine, went without their pay, some since 2008, and now try to live on the broken promises from Global Gold on their farms and try to raise cattle amongst their environmentally polluted fields and pastures of Melik village.

In 2008 GBGD received advances of $3,500,000 from its "independent" director, Mr. Ian Hague, GBGD's largest shareholder and investor. The money was supposedly used for its operations in 2008 but the local labourers from the Village of Melik and regional contractors were left with unpaid salaries and fees for the worked they performed.

The Melik labourers earned between $250-$500 a month and the back pay of $286,000 was converted to sham employee loans in 2010. This was announced in the GBGD filings that "As of December 31, 2010, the Company had loans due to employees in Armenia of approximately $286,000. The loans accrue interest at an annual rate of 14%." Now 3 years and almost 5 years waiting to get paid, these loans (back pay) remain unpaid by GBGD, Ashot Poghosyan and GBGD's President, Mr. Van Z. Krikorian.

Also in GBGD's 2010 year end report it announced that "The Company has been brought to court by several disgruntled former employees and contractors for unpaid salaries and invoices, respectively, as well as some penalties for non payment which totals approximately $350,000." So total unpaid salaries and bills to local labourers and contractors was $636,000.

Meanwhile miraculously Mr. Ashot Poghosyan, GBGD's Country Manager, and Operator of the Toukhmanuk Gold Mine, was able to start building his Villa. He managed this on a a $75,000 salary and apparently from money he apparently scammed over the years from his employer and investors of GBGD, through his private consulting firm, ARAX CONSULTING and related family controlled companies.

I leave you below, with a video ( [URL]http://youtu.be/9gp2wFcUVGg[/URL] ) filmed at the Melikgyugh Village (Melik), where the local villagers complain about Global Gold Corp. (otcqb: GBGD) and the broken promises made by GBGD's Country Manager and Operator of the Toukhmanuk Gold Mine.

Bill Mavridis

Montreal, Quebec

bmavridis@gmail.com

 
 
FAQs | Contact Us | Terms & Conditions | Privacy Policy
© 2021 Proserve Technology, Inc.