Multi Group Director Sedrak Arustamyan Appears in Court with a Cane

In the Court of Appeals, under the presidency of Judge Lusine Abgaryan, a hearing is underway regarding the prosecutor's appeal against the decision to release Sedrak Arustamyan, the director of the Multi Group company, on bail. Arustamyan appeared in court using a cane.

In an interview with journalists, Arustamyan stated that he does not accept the charges brought against him. When asked if he was prepared to serve time should the court decide to detain him, he responded, "I am ready for anything."

It is worth noting that a month ago, an alternative measure of restraint in the form of bail was applied to Sedrak Arustamyan, allowing him to be released from detention in exchange for 20 million drams.

Sedrak Arustamyan is charged under the first part of Article 190, the third part of Article 189, and the second part of Article 205 of the Criminal Code for committing criminal acts. Gurgen Sargsyan and Suren Avagyan are also charged under the same articles concerning money laundering, large-scale tax evasion, and engaging in fraudulent entrepreneurship or organizing these criminal acts.

According to a statement from the Investigative Committee, "Sedrak Arustamyan, effectively leading the activities of 'Stons' LLC, simultaneously acted as the 100% shareholder of 'Stons' LLC from June 10 to August 8, 2016, coordinating the company's activities with Suren Avagyan and Gurgen Sargsyan. He allegedly made a criminal agreement with representatives of the Armenian branch of 'China Communications Construction Company' LLC, which was carrying out construction work on the segments of Talin-Lanjik and Lanjik-Gyumri as part of the 'North-South Road Corridor' program. This agreement involved illegally withdrawing funds from the company by issuing tax invoices without providing any services, concealing and distorting the criminal origin of those funds, and transferring them to their affiliated companies, cashing out under various pretenses or as dividends, thereby facilitating significant tax evasion for the Armenian branch of 'China Communications Construction Company' LLC."