Intentional Bankruptcy Case Discovered, Causing Approximately 200 Million AMD Damage to the State

The Investigative Department of the State Revenue Committee has uncovered an intentional bankruptcy case involving the companies "Gev Gar" and "Erem" due to criminal activities outlined in Articles 193 and 205 of the RA Criminal Code during the pre-trial investigation.

It was revealed that citizen E. S. organized and led the importation and sale of grain crops and seeds from EAEU countries, particularly from the Russian Federation to the Republic of Armenia, with a total value of around 950 million AMD between 2019 and 2020 for profit.

As a result of the importation and wholesale sales of these goods, he received the corresponding amounts due during the same period. However, despite having sufficient financial capacity, he intentionally failed to fulfill his obligations to the state and did not pay taxes amounting to around 200 million AMD, managing the assets obtained from his business at his discretion and deliberately creating signs of insolvency, thus causing significant damage to the state.

As a result of investigative and operational actions conducted jointly by the Investigative Department of the SRC and the General Department of Criminal Police of the Police, the citizen suspected of committing these criminal acts, E. S., has been discovered and arrested. Additionally, significant evidential items and documents crucial to the case were found and seized during searches conducted at various addresses.

The State Revenue Committee urges citizens of Armenia to refrain from engaging in illegal activities, including intentionally conducting business that avoids tax payment or importing goods into the territory of Armenia through involvement in groups that create deliberate signs of insolvency or engage in criminal activities.

Note: The person suspected of or charged with a crime is presumed innocent until proven guilty in accordance with the procedures established by the RA Criminal Procedure Code through a legally binding court verdict.