SPAYKA suspected in $15,000,000 tax evasion, executive charged

The State Revenue Committee of Armenia has disclosed details over the case concerning Davit Ghazaryan, the CEO of a SPAYKA, a major exporting and freight forwarding company of the country. Unconfirmed reports earlier said Ghazaryan has been arrested, but authorities said the executive has only been charged, yet.

The State Revenue Committee said in a news release that Ghazaryan is suspected in tax evasion in ‘particularly large amounts’.

It said the executives of SPAYKA have faked customs documents to evade customs duties.

Damages amount to nearly 15,000,000 dollars in unpaid customs duties and taxes.

Investigators have filed a motion to court requesting to issue an arrest warrant for Ghazaryan. The CEO of the company has been charged with tax evasion.

A court is expected to either approve or reject the arrest motion on April 5.

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