Armenian businessman Samvel Mayrapetyan is accused of $12 million tax evasion

YEREVAN, June 25. /ARKA/. Armenia's Special Investigative Service )SIS) said today investigators have expanded charges against businessman Samvel Mayrapetyan, who is now charged with tax evasion complicity in the amount of almost 5.7 billion drams (about $11.83 million).

It said based on additional evidence, investigators decided to accuse Mayrapetyan under part 2 of article 38-205 of the Armenian Criminal Code.

The investigators say Mayrapetyan had entered false data in the reports submitted to the tax authority regarding the activities of Globus LLC, which he owned.

The SIS said it means a contract signed by Globus LLC with a contractor for the construction of a residential building on Teryan Street in Yerevan in 2006 with a total area of ​​more than 28,650 square meters.

It said certain manipulations were made with the sale of apartments and garages at prices significantly lower than market prices, as a result of which the company paid significantly less VAT and income taxes.

Then, in order to hide large-scale tax evasion, Globus LLC was liquidated. Mayrapetyan is also accused of legalization (money laundering) of property obtained by criminal means and complicity in receiving a bribe. Former chief of the presidential staff Armen Gevorkyan is also involved in this case.

In early March, the Special Investigation Service put Mayrapetyan on the wanted list. He was accused of complicity in receiving a bribe in the amount of $7 million. Earlier he had been allowed to travel abroad for medical treatment and did not come back.

A suspect or accused of an alleged crime is presumed innocent until proven guilty according to a court order that enters into legal force in the manner established by the Criminal Procedure Code of Armenia. --0--