YEREVAN, March 16. /ARKA/. Armenia’s Investigative Committee said today the investigation into a pyramid scheme run by FINIKO company, which is accused also of making manipulations with cryptocurrency is underway to identify all persons affected by the criminal activity of the company.
According to the investigation, since March 2020, FINIKO, set up originally to engage in financial and investment activities, was actually running a pyramid scheme in Armenia since March 2020 offering new ‘investors’ 25-30% returns.
Investments were made with cash, which was converted into cryptocurrency and transferred to the company’s electronic wallet.
FINIKO was managed by Vazgen Zoboyan and his wife, who have been outside Armenia since July 31, 2021. The Investigative Committee called on all citizens affected by the criminal activities of this company to contact its investigators.
According to foreign media reports, FINIKO ran financial pyramids not only in Armenia, but also in Russia, Kyrgyzstan, Uzbekistan and other countries. Criminal cases were initiated against it on suspicion of fraud.
A person suspected or accused of an alleged crime is considered innocent until his guilt is proven in accordance with a court decision that has entered into force, in the manner prescribed by the Criminal Procedure Code of Armenia.–0–
