Arrest of Company Directors in Connection with Kocharyan Case Involving 2.6 Billion Dram Damage

The Investigative Committee of the Republic of Armenia reports that simultaneous searches were conducted on August 25 in connection with criminal proceedings regarding large-scale tax evasion. A total of 17 addresses linked to the activities and residences of various businesses were searched, resulting in the discovery and seizure of documents and items relevant to the criminal proceedings.

The addresses of the business entities have been sealed in accordance with the procedures established by the Criminal Procedure Code of the Republic of Armenia, to carry out evidential and procedural actions.

Based on the evidence of crimes committed, investigators from the Economic Crimes and Smuggling Investigation Department of the Investigative Committee have submitted motions to the supervising prosecutor for public criminal prosecution against directors I.H., A.A., K.A., and former director H.M. under the second part of Article 290 of the Criminal Code, which have been granted.

The aforementioned individuals have been arrested. Motions will be submitted to the court to apply detention as a means of restraint against them.

The state has suffered approximately 2 billion 682 million 21 thousand 224 Armenian drams in damages due to the activities of these business entities.