YEREVAN, August 14. /ARKA/ A person has been arrested in Armenia on suspicion of stealing 802.5 million drams from a bank and money laundering, the press service of the Investigative Committee of Armenia reported, noting that the preliminary investigation has been completed.
During the criminal proceedings, it was established that the suspect discovered a technical glitch in the software of an electronic application of one of the companies. When transferring funds from account to card and from card to card, the system did not check the account balance.
From December 30, 2024, to January 5, 2025, having only 92,000 drams in his bank account, the suspect made 2,709 transactions through the application with various amounts. As a result of the technical glitch, 802.5 million drams ($2.2 million) were generated on his card account, which the system perceived as successfully completed transactions.
Additionally, from January 1 to 5, 2025, in an attempt to conceal the criminal origin of the stolen funds, he transferred 711.5 million drams to accounts of companies engaged in crypto asset operations in Armenia, converting part of the money into crypto assets. The remaining funds were transferred to card accounts of more than 100 individuals.
A public criminal prosecution has been initiated against him on charges of theft using computer systems and money laundering in especially large amounts.
During the preliminary investigation, the bank was compensated for 44.7 million drams in damages. The criminal case with an indictment has been sent to the supervising prosecutor.
The suspect or accused in the alleged crime is presumed innocent until proven guilty by a court ruling that has entered into legal force, in accordance with the Criminal Procedure Code of Armenia.
