Through evidence collected as a result of investigative actions conducted in the course of the preliminary investigation of the criminal proceeding initiated on September 28, 2013, it was established that several IRI and RA citizens, with the intent to fraudulently misappropriate a total amount of 10 million 980 thousand EUR transferred to a bank operating in the Republic of Armenia, pursuant to a prior agreement reached with the bank’s director and deputy director, put into circulation allegedly fictitious loan agreements and letters purportedly executed between companies. On the basis of these documents, 1 million EUR from the aforementioned funds held by the bank was first transferred on August 1, 2012, to the account of a company managed by one of the members of the criminal group, and subsequently to the company’s account opened at the bank.  

Subsequently, on the basis of the aforementioned falsified documents that had been put into circulation, the remaining amount of 9 million 980 thousand EUR was transferred on October 3, 2012, to the account of another company affiliated with them, and in March 2013, to the company’s bank account. Thereafter, part of the funds was withdrawn in cash, while another part was transferred to the bank accounts of persons involved in the criminal scheme. As a result, during the period from August 2012 to March 2013, the aforementioned persons, using falsified documents, fraudulently misappropriated a particularly large amount of funds, namely 10 million 980 thousand EUR equivalent to 5 billion 804 million 577 thousand AMD, concealing the  source and true nature of those funds by committing money laundering in particularly large amount.   

On January 27, 2015 V.M., as well as other persons involved in the criminal scheme were involved as a defendant within the criminal proceeding according to the Part 2 of the Article 325, the Point 1 of the Part 3 of the Article 178 and the Point 1 of the Part 3 of the Article 190 of RA Criminal Code adopted on 18.04.2003.

As a result of measures taken by the RA law enforcement bodies V.M., who had been wanted for about 11 years, was found and arrested in the RF, and on June 18, 2026 was extradited to the RA.

In the course of the preliminary investigation public criminal prosecution was initiated against V.M. according to the abovementioned articles, and home detention was applied as a pretrial measure against him. 

The criminal proceeding with the bill of indictment was referred to the supervising prosecutor. 

It should be noted that the criminal proceeding with respect to A.K. and M.Ye. with the bill of indictment was referred to court in 2014, as a result of which they were sentenced to imprisonment.