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Global Gold Corp. and Van Krikorian sued by Joint Venture Partner and Investor of $7MM

You heard it here first..... According to the court roll published by the Royal Court of Jersey on March 28, 2014, Global Gold Corp and its CEO, Chairman, Director and Corporate Counsel, Mr. Van Krikorian,  are being SUED by Consolidated Resources Armenia (CRA).  CRA has invested approximately $7,000,000 in acquiring a 49% interest in GBGD's Armenian assets, namely the Toukhmanuk Gold mine and the Getik copper and gold exploration property. And now CRA is suing GBGD. Why?

I took the liberty to check the SEC filings for GBGD and there is no Form 8-K filed disclosing this lawsuit. By law GBGD must disclose material events, like a lawsuit, in 4 business days from having knowledge. There was no disclosure.

Global Gold did file a Form 8-K on February 3, 2014 stating that they have not closed Binding Heads of Agreement to merge GBGD's Armenia assets with Signature Gold of Australia. (see GBGD 8-K filing of September 5, 2013). It will be curious to see how GBGD and Van Krikorian, who received $7,000,000 cash from CRA, that they are not able to close a deal since 2011, and in fact this will be second deal they failed to close. And how will GBGD explain to the SEC that it has failed to file material disclosure Form 8-K explaining the lawsuit. In my previous blog I also provided PROOF that GBGD received a Ministerial Decree from Government of Armenia that its GETIK License was cancelled by the Ministry of Energy and Natural Resources, due to non-performance. This Ministerial Decree was issued on January 24, 2014  (see blog: GBGD Loses Getik Exploration License). Over 2 months have now passed and GBGD has not filed a Form 8-K to disclose this material event either.  Stay tuned.....As news filters out about this new lawsuit against GBGD and Mr. Van Krikorian I will bring the facts to your attention what GBGD has failed to disclose to investors in my continuing whistle-blowing effort to expose fraud at GBGD.

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Clear and Apparent Fraud at GBGD and Toukhmanuk Gold Mine

On July 5, 2013, GBGD and Mr. Van Krikorian (President and CEO) signed a deal with Linne Mining to act as the CONTRACT MINER for the development of its Toukhmanuk Gold Mine, in Armenia.
By November 2015, Van Krikorian announced in its SEC quarterly filings (10-Q), that the Toukhmanuk project was delayed because the contract miner "requested" to be relieved of its obligations under the mining contractagreement.

To this date, Van Krikorian has failed to post a copy of Linne Mining's letter or provide any clarification to investors, why Linne Mining requested to be "relieved" of it obligations. 

Three months later, the reason for Linne Mining's actions have started to become crystal clear. Linne has been swindled by Van Krikorian and GBGD. There is no gold worth mining at the Toukhmanuk Gold Mine. Here is the proof.

Two documents, which were prepared for Linne Mining, surfaced on the web last week. These two documents outline that the database provided by GBGD and…


That's what Mr. Van Z. Krikorian said to me and my brother (John Mavridis) in October 2010 while we were trying to resolve the dispute between Global Gold and Caldera.  Little did I know that he was serious and that his scheme was already put in place weeks before!

Mr. Van Z. Krikorian, the Corporate Counsel of Global Gold Corporation, authorized his lawyer in Armenia Mr. Hrayr Ghukassyan, to file a criminal complaint against me for theft and fraud on September 15, 2010, for allegedly stealing the shares of Marjan Mining Company.

Below is the signed complaint filed by Global Gold Mining, the subsidiary of Global Gold Corporation (GBGD) that was filed with the Prosecutor of Yerevan City, Mr. Badalyan.

Translated from Armenian

To: Mr. Badalyan,
Prosecutor of Yerevan city

From: Hrayr Ghukasyan
Global Gold Mining LLC
Representative of the Armenian Branch

Address: 2a/2 Tumanyan, Yerevan, Republic of Armenia Tel: 010 52-94-18, 093 988-797
Consider and report to: