VIDEO: 700,000,000 Dram Turnover Hidden at Republican Stadium

The Chief Directorate for the Fight Against Corruption and Economic Crimes of the Police has obtained factual data based on operational information that from November 2003 to July 2018, the management of the HFF 'V. Sargsyan Republican Stadium' conducted entrepreneurial activities on the stadium's premises without special permission from the Ministry of Finance of the Republic of Armenia.

According to the police press service, they specifically organized a wholesale flower market and collected around 160,000 drams daily from individual flower traders, of which only a portion was recorded in the cash register.

According to currently known data from the investigation, approximately 849,600,000 drams were collected during this period, of which only 149,519,905 drams were documented. In this manner, a turnover of 700,000,000 drams was concealed, and taxes amounting to 97,861,424 drams were not paid.

Furthermore, the state suffered a significant loss of 10,000,000 drams regarding the annual state duty for the license.

During the preparation of the materials, it was also revealed that the management of the 'V. Sargsyan Republican Stadium' had signed a lease agreement with an individual entrepreneur. Based on this agreement, the entrepreneur conducted illegal business activities in the stadium area since August of the previous year, again without special permission from the Ministry of Finance, organizing wholesale flower sales. This also resulted in a significant loss of 2,000,000 drams for the state regarding the state duty for the license.

During the material preparation process, individuals were taken in for questioning by the Chief Directorate for the Fight Against Corruption and Economic Crimes, through whom this individual entrepreneur carried out illegal entrepreneurial activities since August 2018.

A criminal case has been initiated at the police concerning these incidents, which has been forwarded to the investigative department of the State Revenue Committee for further investigation. Operational and investigative measures are continuing.