Sedrak Arustamyan Will Remain at Liberty

Sedrak Arustamyan, the owner of the company "Stons," will remain free. In a conversation with reporters, Arustamyan stated that the court made a just decision. According to a NEWS.am reporter, Arustamyan arrived at court using a cane.

It is noted that Arustamyan does not accept the charges brought against him. One month ago, Arustamyan was granted bail as an alternative measure, set at 20 million drams.

He has been charged under Article 190, Part 3, Point 1 of the Criminal Code and Articles 189, Part 3, and 205, Part 2. Two other individuals, Gurgen Sargsyan and Suren Avagyan, are also involved in the case, facing charges under Article 190, Part 3, Point 1, as well as Articles 189, Part 3, and 205, Part 2 of the Criminal Code (money laundering, tax evasion in large amounts, and engaging in false entrepreneurship).

According to a statement from the Investigative Committee, between June 10 and August 8, 2016, Sedrak Arustamyan, the 100% shareholder of "Stons" LLC, coordinated with Suren Avagyan and Gurgen Sargsyan to unlawfully extract financial resources from the company via tax invoices issued to the Armenian branch of the contractor "Sinohydro Corporation" LLC without providing services. They allegedly reached a criminal agreement to conceal the illegal origin of these funds by transferring them to their affiliated companies and cashing them out under the guise of other expenses or as dividends, thereby aiding the Armenian branch of "Sinohydro Corporation" in evading substantial tax liabilities.