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Former Armenian president Serzh Sargsyan charged with bribery and illegal business activity

Former Armenian president Serzh Sargsyan charged with bribery and illegal business activity
02.07.2025 16:30

Former Armenian President Serzh Sargsyan has been formally charged with receiving a large-scale bribe and engaging in illegal entrepreneurial activity, Armenian media reported on Wednesday, citing the country’s Anti-Corruption Committee.

Investigators say that during his time in office between 2000 and 2018 — including as defense minister, prime minister, and president — Sargsyan used his official position to create and manage commercial entities through trusted associates, particularly an individual identified as M.B.

He allegedly facilitated the establishment of a bitumen plant in the Surenavan community of the Ararat region in partnership with two Russian companies registered in Cyprus. Fifty percent of the newly created company was registered under M.B.'s entity, while the remaining shares were split between the Russian partners.

Sargsyan later allegedly demanded that M.B. transfer 22.5% of the company's shares as a bribe to a company linked to the son and relative of former President Robert Kocharyan.

The investigation says M.B. transferred the shares under a formal transaction and later made additional investments. Following the company’s bankruptcy in 2013, Sargsyan reportedly arranged a $14 million loan via a bank linked to his close associate to repay the Russian investors.

Later, a new company was established to which assets were transferred and eventually acquired in full by a company associated with Sargsyan’s son-in-law for $40 million, granting it monopoly rights over gasoline imports.

Sargsyan also allegedly demanded that M.B. pay Kocharyan's son $6 million as a bribe, disguised as a loan through a falsified agreement.

The investigation has concluded, and the case has been forwarded to Armenia’s Anti-Corruption Court with an indictment.

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