Armenia’s senior officials money laundered in Seychelles – newspaper

April 06, 2013 | 06:31

YEREVAN. – Few people in Armenia know about Seychelles, but it appears
the latter play a quite serious role in Armenia’s economy, Zhoghovurd
daily reports.

`Zhoghovurd found out that they [that is, Seychelles] made a $23.6
million investment in Armenia. In addition, they invested close to
[$]3 million in crop and livestock, and [$]20.5 in telecommunication.

[But] in reality, those investing under the name of Seychelles are
Armenia’s senior officials that laundered their dirty money in
offshore Seychelles and brought [it] to Armenia.

To note, investments are made in telecommunication – that is, in the
domain of strategic importance – with money from offshore countries,’
Zhoghovurd writes.