🆘 Armenia🇦🇲: last week, law enforcement agencies conducted raids on iGaming companies in Yerevan, including searches and equipment seizures

🆘 Armenia🇦🇲: last week, law enforcement agencies conducted raids on iGaming companies in Yerevan, including searches and equipment seizures

The Investigative Operations Department and the National Security Service carried out a series of joint operations, during which they uncovered an extensive network connected to an unlicensed gambling business. The number of employees involved in the network is estimated in the hundreds, while the potential damage caused to the state has been assessed at 6,516,036 USD.

💘 Investigators determined that employees received more than USD 2,578,024 in cash salaries, bonuses, and incentive payments. According to the authorities, these payments were not reported in the official tax filings submitted to the tax administration.

💘 Law enforcement officers seized work computers, server equipment, mobile phones, numerous SIM cards, video recording devices, as well as a large quantity of electronic and paper documentation.

💘 Preliminary data indicates that the possible underreporting of income tax exceeds 523,952 USD. There are also grounds to believe that the actual figures may be significantly higher.

💘 The investigation revealed that players’ financial transactions were processed through various channels. Cryptocurrencies were used to fund gaming accounts and place bets, while a range of payment intermediaries also facilitated transactions.

💘 Given that the incident allegedly caused particularly large-scale damage to the state, a criminal case has been initiated.
The names of the companies involved have not been disclosed. Local media outlets are currently focused primarily on Armenia’s electoral process, and additional details are expected to emerge in the coming days.

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