Chief Accountants of ‘Security Dream’ and ‘Ellips GJ A’ Released on Bail

Chief accountants Armen Khanamiryans of ‘Security Dream’ and Sahakunysh Sahakyan of ‘Ellips GJ A’ have been released on bail amid an investigation into fraud and document forgery. This was reported by the Investigative Committee.

It should be noted that yesterday, a court decision was made to detain Alexander Zakaryan, the founder of 'Security Dream', within the framework of the same case.

All three individuals face charges under Article 178, Part 3, Item 1 (especially large-scale fraud) and Article 325, Part 2 (forgery of documents by a group of individuals with prior agreement) of the RA Criminal Code.

Furthermore, information has been obtained regarding the involvement of another founder of ‘Security Dream’ and ‘Ellips GJ A’, as well as the former director of ‘Security Dream’, in the apparent abuses. A decision has been made regarding their arrest, with implementation assigned to the RA Police.

According to the case materials, from February 2017 to June 2018, the management of ‘Security Dream’ and ‘Ellips GJ A’ allegedly forged monthly performance reports for non-existent services provided under contracts concluded with the intention of embezzling funds. Based on these false reports, the management fraudulently embezzled approximately 1,015,869,600 AMD from both companies.