Family business of former Armenian president concealed millions VIDEO

Armenia’s State Revenue Committee (SRC) has accused a company owned by the family of former President Robert Kocharyan of failing to pay $4 million in taxes.

According to the SRC, a branded clothing store operating in Yerevan concealed part of its turnover through cash transactions and by failing to issue fiscal receipts, resulting in the state budget receiving 1.5 billion drams ($3.9 million) less in taxes, Caliber.Az reports, citing Armenian media.

A video published by the committee showed that the store in question is La Galleria, which was searched on August 25, the day Kocharyan and his eldest son, Sedrak, were detained.

Following the searches, investigators closed and sealed the premises.

By Bakhtiyar Abbasov