State Revenue Committee finds $ 6.8 million deposit contract in former Armenian president’s nephew’s house

A row of criminal cases was initiated in Investigation Department of State Revenue Committee of Armenia in the first semester of the current year, informed the president of SRC, Davit Ananyan. For example, a set of corporations have entered fake data in tax calculations, due to which they have not paid taxes and caused huge damage to the state.

According to SRC, the companies mentioned above are: “Gyumri Garejur” Ltd, which has damaged the state by avoiding the tax payment making up 359.867.839 AMD. The same did “Contourglobal Hydro Cascade” CJSC, hiding 854.987.400 AMD tax, “Village Group” Ltd – 1 billion 669.694.074 AMD, “Green Product” Ltd 427.903.695 AMD.

Criminal cases were lodged against these companies upon Part 2 of Article 205 of the Criminal Code of the Republic of Armenia. “Spayka” Ltd was searched in the frameworks of the criminal case against “Green Product”.

According to Davit Ananyan, cases of damages to the state of large amounts have been revealed due to the criminal cases investigated from May to June 2018, and newly initiated cases in the Investigation Department of the State Revenue Committee. In the result, over 1.5 billion AMD was taken back to the state budget. Besides, according to SRC, in the result of large-scale investigative and judicial actions in the preliminary investigation of the criminal cases being investigated in the Investigation Department cases of becoming rich illegally and hiding the property subject to declaration by high-ranked officials and their relatives were disclosed.      

After these cases, Mr. Ananyan highlighted the largest one: for example, it was found out that the illegal economic activity by “GLG Project Company” LLC caused 800 million AMD damage to the state, which was completely restored.     

During the preliminary investigation of the same case, $ 6.800.000 deposit contracts were revealed invested in one of the banks of Armenia in the house of former president, Serzh Sargsyan’s nephew, Narek Sargsyan, who is a shareholder in “GLG Project Company” LLC. The contracts were confiscated.     

Nelly BABAYAN