Armenian Government Contracts Worth $14.7 Million to Companies of Accused Embezzler
Local and state government agencies in Armenia continue to sign contracts worth billions of drams with a company owned by Hakob Stepanyan, who is on trial for defrauding the government of 256 million drams (US$661,000) in 2019.
In 2023, the Ministry of Territorial Administration and Infrastructure and the municipalities of Dilijan and Armavir and Masis signed contracts with Stepanyan’s Eurobud Plus LLC (a road construction firm) and Regionstroyservice LLC ( a company that paints road markings, installs street signs and maintains traffic lights in Armenia) worth 5.9 billion drams ($14.7 million).
4.9 billion went to the former and one billion to the latter.
Hetq first wrote about Hakob Stepanyan in June of this year.