Armenia detains six, including ex-president Kocharyan, in corruption probe

Six people have been detained as part of a criminal investigation conducted by Armenia's Anti-Corruption Committee, including former President Robert Kocharyan, his son Sedrak and other individuals allegedly linked to criminal schemes, according to Armenian media.

According to materials from the criminal case investigated by the Anti-Corruption Committee, investigators obtained evidence suggesting that Kocharyan, acting in prior agreement with individuals close to him and using his official position, allegedly transferred a number of valuable real estate assets of public and economic significance out of state ownership under various fictitious pretexts.

The properties were allegedly acquired at prices significantly below their market value.

According to the preliminary investigation, the assets were subsequently transferred to affiliated companies in an effort to conceal their actual ownership and alleged criminal origins.

The acquired properties were later reportedly disposed of through construction and sales, transfers to third parties, and the transfer of shares in the companies that owned the assets, including through gifts.

Investigators are also examining money transfers made to the former president's son between 2001 and 2019. The total amounts under investigation are approximately 144 billion Armenian drams ($394.3 million), $309 million, €77 million and 18 million Russian rubles ($212,754 million).

The investigation also covers the circumstances surrounding the acquisition of more than three dozen properties in Armenia and abroad that are allegedly owned by individuals involved in the criminal proceedings and members of their families.

The allegations are part of an ongoing preliminary investigation, and the circumstances described by investigators have yet to be established by a final court ruling.

Stabil.Az