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By Diego Karamanukian in Montevideo

Eduardo Eurnekian, the embattled Argentine billionaire of Armenian descent, returned to Argentina on Thursday to face accusations of tax evasion.

Eurnekian flew back to Buenos Aires from the United States on his private plane to appear for the first time before a local court which issued an international arrest warrant for him while he was absent from the country last week. The ruling was overturned by a higher court on Tuesday after his lawyers guaranteed his return and agreed to post a bail of 14 million pesos ($5 million).

“Eurnekian signed all documents and is now enjoying his freedom at home,” said lawyer Roberto Marconi. He said his client, who runs 33 airports across Argentina, continues to deny the charges.

The case is followed with interest in Armenia where Eurnekian’s Aeropuertos Argentina 2000 consortium was granted last year a 30-year management of Yerevan’s Zvartnots international airport. Armenian officials insist that it will not affect the company’s pledge to invest $50 million in Zvartnots in the coming years.

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