Fake Investments and Large-Scale Embezzlement: Police Uncover New Criminal Scheme
Last year, the police’s cybercrime unit received information about specially equipped call centers operating in various parts of Yerevan. These centers were running fraudulent investment schemes. Employees, posing under false names, contacted individuals residing in other countries via online calls, offering lucrative investments on counterfeit platforms they had created. Using remote access software, they stole particularly large sums of money, which they then converted into various cryptocurrencies.
Difficult Investigation and Carefully Planned Operation
“Through a large-scale operational and investigative operation, we were able to identify the individuals behind the pseudonyms used in this criminal mechanism. However, the final stage of the operation required further preparation. After the discovery and arrests, it was also necessary to secure an evidentiary base, which is the most difficult task in such cases,” says Hayk Mkrtchyan, Head of the Cybercrime Unit of the Criminal Police Department of the Ministry of Internal Affairs, Police Lieutenant Colonel.
Criminals’ Precautions and Law Enforcement Actions
To conceal their activities from law enforcement, members of the criminal organization registered with tax authorities as companies operating in the software development and retail sectors. Computers in the offices were used remotely, neutralizing the risk of storing potentially incriminating electronic data. They also anticipated the possibility of a surprise search, acquiring various security systems and using specialized computer programs capable of instantly deleting all electronic data on a computer to destroy any incriminating evidence.
On January 31, simultaneous surprise searches were conducted by the General Department of Criminal Police and the General Department of Investigation of the Investigative Committee in office spaces across the capital. These searches uncovered evidence of the group’s alleged criminal activity.
Cooperation with International Law Enforcement Agencies
Police are now actively cooperating with law enforcement agencies in European countries to identify individuals affected by the criminal activity.