Serzh Sargsyan's brother embezzles one billion drams for his company from the state budget

  23 June 2018    Read: 3226
Serzh Sargsyan

The heads of the companies titled "Security Dream" and "Ellipse" embezzled more than 1 billion drams from the state budget, the press service of the police said on Thursday.

Inspections of companies were carried based on the evidence.

In 2011, 2013 and 2017, the Traffic Police and the company concluded contracts for the purchase of traffic control systems, as well as the service provision. The company created a high-speed road monitoring system, as a result, the money collected by the government distributed between the Traffic Police and “Security dream” at the following ratio (respectively) of 30% / 70% in 2011; 50% / 50% in 2013; 10% / 90% in 2017. In addition, according to the agreement signed in 2017, the Traffic Police returned "Security Dream" 10% of the money collected for the services provided.

According to the same agreement, the Traffic Police undertook to fully compensate for all services rendered. The inspections revealed that the company signed an agreement with ZAO Ellipse in order to provide the operation of the systems, but in the end, the aim was money laundering.

In particular, between February and June of 2017, two companies compiled contracts for the service provision, acts on the execution of the order, but in reality, nothing happened - it was a fiction. These acts were sent to the Traffic Police, which paid for them.

As a result, the leadership of "Security Dream" and "Ellipse" embezzled approximately 1 billion 16 million drams.

The police were provided with the evidence on the embezzlement. Investigators have opened a criminal case. , An investigation is underway to find out the total amount of damage to the state.

Note that both companies are registered t the same address, and to the same people.


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