Large Criminal Activity
Large Transnational Criminal Group Engaged in Investment Fraud Exposed in Armenia
Exposure of a large transnational criminal group involved in investment fraud operating in Armenia, committing extensive financial fraud and money laundering through fake websites and cryptocurrency.
Armenian authorities have revealed a significant transnational criminal group engaged in investment fraud. The group, involving citizens of Armenia and other countries, used fake websites and social media advertising to lure foreign investors with promises of high returns. By exploiting trusts and using foreign language callers, they defrauded victims of substantial sums, primarily in cryptocurrency. The group laundered millions of drams through shell companies and fake businesses, causing over 130 million drams in material damage to the state. The investigation opened in early 2023 led to large-scale searches and arrests in Yerevan, including the capture of one of the group's leaders in January 2026.
- Status
- active
- Location
- Yerevan, Armenia
- Date added
- 2026-03-25 08:31 UTC
- Last updated
- 2026-03-25 08:31 UTC
- Source
- https://www.armtimes.com
- Connected threats
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- Not Available