Suspects in Fraud Case Surrender to Investigators

The Investigative Committee of the Republic of Armenia is actively pursuing investigatory actions regarding serious criminal offenses committed by employees of "Security Dream" and "Ellips G.A." companies, specifically concerning large-scale fraud and document forgery by a group of individuals in premeditated agreement.

This information was provided by the Public Relations Department of the Investigative Committee of Armenia.

Those wanted on charges of committing large-scale fraud and document forgery—including another co-founder of "Security Dream" and the former director of "Security Dream"—have now surrendered to the relevant authorities.

It was previously reported that throughout 2017, employees of the aforementioned companies prepared false enforcement acts regarding services that were not actually provided, which were subsequently used to create correspondingly false reports, leading to the fraudulent appropriation of approximately 1,015,869,600 AMD by the management of "Security Dream" and "Ellips G.A." through submission to the financial department of the Armenian police.

Another co-founder of the companies and the former director of "Security Dream," who were wanted by authorities, surrendered to investigators on October 1, 2019, and were arrested.

They have been charged under Article 178, Part 3, Clause 1, and Article 325, Part 2 of the RA Criminal Code.

As of today, five individuals have been assigned the status of defendants in this criminal case. One co-founder has been remanded in custody, while the court has allowed alternative detention measures in the form of bail for two accountants from the companies. The investigation is ongoing.