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Companies affiliated with former President Robert Kocharyan caused approximately AMD 2.682 billion ($7.37 million) in damage to the state, according to the Investigative Committee, which said the directors of the companies have been arrested.
The Investigative Committee of Armenia issued a statement saying that simultaneous searches were conducted on August 25 at a total of 17 business and residential addresses as part of criminal proceedings investigating major tax evasion.
“Investigators from the General Department for Investigation of Economic Crimes and Smuggling of the Investigative Committee conducted simultaneous searches on August 25 at a total of 17 addresses where business activities were carried out and residences were located. As a result, documents and items relevant to the criminal proceedings were discovered and seized.
The addresses where the business entities operate were sealed in accordance with the procedure prescribed by Armenia’s criminal procedure legislation for the purpose of carrying out evidentiary and procedural actions,” the law enforcement agency said.
Based on evidence, investigators from the General Department for Investigation of Economic Crimes and Smuggling of the Investigative Committee submitted motions to the supervising prosecutor to indict directors identified only by their initials, I.H., A.A. and K.A., as well as former director H.M., under Article 290, Part 3, Clause 2 of the Criminal Code. The motions were granted.
The individuals were arrested. Investigators said motions to have pre-trial detention applied as a measure of restraint will be submitted to the court.