Mass raids, arrests in Armenia over аlleged large-scale fraud scheme

PanARMENIAN.Net - The General Department for Investigation of Economic Crimes and Smuggling within Armenia’s Investigative Committee is handling a criminal case concerning large-scale fraud and tax evasion.

According to the Investigative Committee, the case involves individuals who effectively controlled several companies and allegedly created false grounds to commit large-scale fraud, launder money, and evade substantial taxes.

As part of the investigation, public criminal prosecution has been initiated against 11 individuals. Of these, 5 have been remanded in custody, 1 is under travel restrictions, another has been issued an arrest warrant for court presentation, and 4 are currently wanted.

A special investigative team conducted simultaneous searches at 51 locations of interest in connection with the case.