YEREVAN. – Few people in Armenia know about Seychelles, but it appears the latter play a quite serious role in Armenia’s economy, Zhoghovurd daily reports.  

“Zhoghovurd found out that they [that is, Seychelles] made a $23.6 million investment in Armenia. In addition, they invested close to [$]3 million in crop and livestock, and [$]20.5 in telecommunication.

[But] in reality, those investing under the name of Seychelles are Armenia’s senior officials that laundered their dirty money in offshore Seychelles and brought [it] to Armenia.   

To note, investments are made in telecommunication—that is, in the domain of strategic importance—with money from offshore countries,” Zhoghovurd writes.