Around 224 Million AMD Fraudulently Embezzled by 'Davinci' LLC Travel Agency

The preliminary investigation into the fraud committed by the travel agency 'Davinci' LLC has concluded at the Yerevan Investigative Department of the RA Investigative Committee. This was reported by the Investigative Committee of Armenia.

The comprehensive investigation established that the founder-director of 'Davinci' LLC, intending from the outset to fraudulently embezzle the assets of the agency's clients, recognizing the financial difficulties within the agency that made it impossible to organize clients' vacations abroad, took on the responsibility of organizing trips for citizens applying to the travel agency to several countries and conducting financial transactions.

From January 23, 2020, to August 12, 2021, he, alongside the tourism manager of the same LLC, exploited the trust that citizens had in the travel agency, abusing that trust, and fraudulently embezzled a particularly large sum of 224,066,450.84 AMD under the pretext of organizing vacations for 177 individuals applying to the travel agency, making prior reservations for airline tickets and hotel rooms.

Based on the sufficient evidence obtained, charges have been filed against the founder-director of 'Davinci' LLC and the tourism manager under Article 255, Part 3, Clause 3 of the RA Criminal Code. As a measure of restraint, a prohibition on leaving has been imposed on them.

The preliminary investigation has been completed. The materials of the criminal case have been sent to the supervising prosecutor for approval of the indictment and forwarding to the court.

Notice: A suspect or accused in an alleged crime is considered innocent until proven guilty in accordance with the procedure established by the Criminal Procedure Code of the Republic of Armenia by a court decision that has entered into legal force.