Charges brought over tax evasion in North-South road construction - skim money amounts to AMD 2.7 billion
19.09.2019,
13:28
Preliminary investigation into the offenses committed in the course of development and implementation of the North-South Road construction program in Armenia. The press office of the Armenian Investigative Committee received reports about tax embezzlement and false entrepreneurship in the construction of Talin-Lanjik and Lanjik-Gyumri road sections as a result of the collusion between Sinohydro Corporation and Stones LLC.
YEREVAN, September 19. /ARКА/. Preliminary investigation into the offenses committed in the course of development and implementation of the North-South Road construction program in Armenia. The press office of the Armenian Investigative Committee received reports about tax embezzlement and false entrepreneurship in the construction of Talin-Lanjik and Lanjik-Gyumri road sections as a result of the collusion between Sinohydro Corporation and Stones LLC.
In particular, it has become known that Sedrak Arustamyan, director of Multi Group Concern, who is actually running Stones LLC and who became the holder of 100% of the company's shares on August 8, 2016, putting the idea of Sinohydro Corporation into practice along with Suren Avagyan and Gurgen Sargsyan, was driving financial means from the company's accounts without providing any service, helping it in gross tax evasion.
To carry out this fraudulent scheme, two contracts were signed between the mentioned companies for provision of consulting services. The reports contains a detailed description of the fraud committed by the offenders.
The skim money amounts to AMD 240.321.559. Along with fines and penalties, the damage inflicted to the state amounts to AMD 2,733,171,489.
Taking into consideration the evidence obtained at the preliminary investigation, it was decided to charge Sedrak Arustamyan, Suren Avagyan and Gurgen Sargsyan, the heads of the companies and the chief accountant at the Stones company, with complicity in false entrepreneurship and tax evasion, the press office of the Investigative Committee reports.
A motion is filed to authorize detention of these three suspects and the preliminary investigation is under way.
Now 15 people are suspects in the case. Lyova Sargsyan, brother of Armenian former president Serzh Sargsyan, is among them. He is announced wanted. ($1 - AMD 476.22). -0---
In particular, it has become known that Sedrak Arustamyan, director of Multi Group Concern, who is actually running Stones LLC and who became the holder of 100% of the company's shares on August 8, 2016, putting the idea of Sinohydro Corporation into practice along with Suren Avagyan and Gurgen Sargsyan, was driving financial means from the company's accounts without providing any service, helping it in gross tax evasion.
To carry out this fraudulent scheme, two contracts were signed between the mentioned companies for provision of consulting services. The reports contains a detailed description of the fraud committed by the offenders.
The skim money amounts to AMD 240.321.559. Along with fines and penalties, the damage inflicted to the state amounts to AMD 2,733,171,489.
Taking into consideration the evidence obtained at the preliminary investigation, it was decided to charge Sedrak Arustamyan, Suren Avagyan and Gurgen Sargsyan, the heads of the companies and the chief accountant at the Stones company, with complicity in false entrepreneurship and tax evasion, the press office of the Investigative Committee reports.
A motion is filed to authorize detention of these three suspects and the preliminary investigation is under way.
Now 15 people are suspects in the case. Lyova Sargsyan, brother of Armenian former president Serzh Sargsyan, is among them. He is announced wanted. ($1 - AMD 476.22). -0---
