The Investigative Committee of Armenia is conducting searches at 51 locations in connection with the criminal case involving the “Electric Networks,” which Prime Minister Nikol Pashinyan has expressed an interest in nationalizing, APA reports, citing the Investigative Committee.
According to the Committee, the Department for Economic Crimes and Smuggling is leading the probe.
The case involves allegations of large-scale fraud, money laundering, and tax evasion committed by individuals who allegedly exercised de facto control over several companies.
During the preliminary investigation, criminal proceedings were initiated against 11 individuals. Five of them have been arrested, one is under a travel ban, one has been detained, and four have been declared wanted.
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