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Gurgen Khachatryan, the co-founder of the Galaxy Group of Companies and chairman of the board of directors at Ucom, issued a statement on Sunday, which, in particular, reads:

“This letter itself is unbelievable, as is the situation created around our businesses.

My brothers and I have been in business since we were students. Naturally, back then those were small and insignificant works, "startups" as we call them today. Freshmen year of the university, we had a lemonade and ice cream stand in Victory Park, a failed pharmacy and a not-so-successful store experience. Business gave us independence. We earned our small but independent income, and that made us strong. We believed that what we created would speak for us, and over the years, 15 brands were created, all from the scratch. Every year new people joined us and new ideas were born, and by the 20th anniversary the company had already become one of the biggest taxpayers in Armenia, uniting 3,000 professionals.

Lately, everyone has been intensely following the situation created around our activities. There were people who expressed concern, there were people who gave strength and support, there were, of course, those who were happy with the situation. But, in particular, 3,000 families have been more troubled because de facto the guarantor of their stability is de jure involved in actions beyond the logic of law, where all manipulative measures are used to dismantle successful businesses, spread and intimidate dirty myths. From a legal point of view, the accusation leveled at me by the state is a gross interference of free economic activity and a person's private life. I will not make a moral assessment. People can see and analyze everything.

Noting the extreme illegality of these trials, the fact that the decisions by the investigative body and the courts are influenced from outside, I do not consider it expedient to get involved in those processes and gain the status of a detainee, contributing to the development of these illegalities.

Today, the dismantling of business is on the agenda, without taking into account its social and economic consequences. I want nothing to do with that agenda.

1. First, I want to address my colleagues, my teammates and friends. We have overcome many adversities, and we will do so with this one and the next one too.

2. I address my words especially to the employees of Ucom. Ucom is an institution and there is nothing that will undermine the strength of the company. Move forward confidently.

3. I address my words to our local and international partners. Rest assured that our group of companies stands firm in its position and is in control of the situation.

Life is an interesting thing. My grandfather had greenhouses, my father was a government official, I chose the path of business and maybe my children will choose the civil service. Every generation has its own way, but there have been no deniers and intimidators in our nation. This is just the beginning of the road.”