Large transnational criminal group engaged in investment fraud was  revealed in Armenia

ArmInfo. A large integrated transnational criminal group that was involved in investment fraud has been revealed in Armenia.

According to the press service of the Ministry of Internal Affairs of  the Republic of Armenia, at the beginning of 2023, the department for  combating cybercrime of the Main Directorate of Criminal Police  received operational information about transnational criminal  activities.

According to the information, companies disguised as employment and  software activities in the State Register of Armenia, managed by  foreign citizens, established a "call center" equipped with computer  equipment in office premises operating at different addresses in  Yerevan. Almost the entire arsenal of the cybercrime department was  used to uncover the criminal mechanism. International cooperation  with law enforcement agencies of European states was also of decisive  importance, since, according to information, not only citizens of the  Republic of Armenia, but also of other states were involved in the  criminal scheme, who, knowing foreign languages, made Internet and  telephone calls to people in foreign languages, offering a profitable  investment for them. Moreover, members of the criminal group prepared  and launched fake websites, which they actively advertised on various  social networks, noting the supposedly high return on investment and  the simplicity of the process. As a result, by misleading various  foreign citizens and abusing their trust, members of the criminal  group stole large sums of money.

As a result of large-scale operational investigative measures,  information was obtained about the persons participating in the  criminal mechanism, their pseudonyms, the nature of the case, as well  as the mechanism for distributing roles in criminal organizations.  According to available data, criminal organizations operating in  Armenia were led by a number of individuals, including foreigners and  citizens of Armenia.  Based on the information received, a criminal  case was opened in the main department for the investigation of  especially important cases of the Investigative Committee.

"As a result of operational-search activities and other procedural  actions carried out within the framework of the initiated criminal  case, it was established that since March 2022, a number of residents  of the Republic of Armenia and abroad have established a criminal  transnational group for the purpose of laundering large sums through  the use of fake businesses,"  said Narek Abgaryan,  investigator of  the Main Directorate for Investigation of Particularly Important  Cases of the Criminal Investigation Department.  According to him, on  December 8 last year, searches were carried out at various addresses  in Yerevan, and already on January 16 of this year, one of the  leaders of the criminal group was found and arrested in Yerevan. A  study of evidentiary information obtained as a result of searches  showed that this criminal group stole a large amount of money in  cryptocurrency from foreign citizens every month during the two years  of its activity, which they subsequently tried to legalize through  money laundering.

"At the same time, on the instructions of the head of a criminal  organization, in order to cover up illegal entrepreneurship by  members of the criminal organization, as well as persons who are not  its members, companies were established that were considered legal  entities of the Republic of Armenia, in which employees were formally  involved. Based on the results of the activities carried out, it was  revealed that material damage to the state amounting to more than 130  million drams," Narek Abgaryan said.  Despite the numerous  difficulties caused by its transnational nature, the work to solve  the crime continues successfully and there are already concrete  results. "Based on the basic facts, the prosecutor was presented with  a request to initiate public criminal prosecution against 20 people,  which he did not reject," the investigator added.

The police are now actively cooperating with law enforcement agencies  in the field of cybercrime in European countries in order to search  for persons affected by criminal activities. Efforts to complete the  investigation of the case are also ongoing in Armenia. "We urge those  who joined or supported this transnational criminal organization to  voluntarily contact the Investigative Committee or the police. When  receiving similar proposals, citizens of Armenia should immediately  contact law enforcement agencies," the Ministry of Internal Affairs  said in a statement.

P.S. Our citizens can also receive such highly profitable investment  offers from abroad, via the Internet. We urge you to ignore such  tempting offers, regardless of the country from which they are  spread. And as cooperation between law enforcement agencies in  various countries is developing in the fight against transnational  investment fraud, please contact law enforcement authorities if you  receive a suspicious offer.