Armenia has detained businessman Samvel Karapetyan again, and opened a case against 36 people over alleged damage of 64.6 billion drams to the Electric...
Armenia has detained businessman Samvel Karapetyan again, and opened a case against 36 people over alleged damage of 64.6 billion drams to the Electric Networks of Armenia company.
Investigators say that between 2016 and 2024 the group illegally moved company money through dividends, loans and advances to affiliated firms, Ateo reports. Searches were carried out at 65 flats and company offices.
Why it matters: Karapetyan is one of Armenia's most prominent pro-Russian businessmen, and the case against his network has become a proxy fight between Yerevan and its old oligarch class.
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