YEREVAN. – Spayka company founding director Davit Ghazaryan, who is charged with non-payment of large amount of taxes, has been released.

The State Revenue Committee issued a statement, noting that there are no grounds for keeping Ghazaryan under custody now. Ghazaryan also paid one billion drams to the united account.

The supervising prosecutor changed the decision to remand him in custody.

On April 8, the capital city Yerevan Court of General Jurisdiction granted the State Revenue Committee’s (SRC) petition and ruled that Davit Ghazaryan be remanded in custody for two months.

As per the respective SRC statement, Spayka has not paid 7,036,666,312 drams (approx. US$14,468,090) in customs duties and taxes to the state budget.