The Investigative Committee accuses Samvel Karapetyan of embezzling loan funds raised for the needs of Electric Networks of Armenia CJSC.

ArmInfo. The RA Investigative Committee issued a statement in connection with the detention of Strong Armenia party leader Samvel Karapetyan.

"At the General Department for Investigation of Economic Crimes and Smuggling of the RA Investigative Committee, investigators from the investigative group conducting criminal investigations into cases of abuse of office in the private sector and, as a result, causing particularly large-scale property damage to a closed joint-stock company, theft of entrusted property on an especially large scale, and money laundering on an especially large scale, together with employees of the National Security Service, the Ministry of Internal Affairs, and the State Revenue Committee, are simultaneously conducting searches in 65 homes and addresses related to the company's activities." As a result of large-scale investigative actions carried out within the framework of the initiated criminal case, as well as on the basis of information received from the National Security Service, the Ministry of Internal Affairs and the State Revenue Committee, clear factual data was obtained that in the period from 2016 to 2024, four cases of abuse of office in the private sector, theft of entrusted property on an especially large scale and money laundering on an especially large scale by S.K. were recorded. and a number of persons associated with it," the statement reads.

In particular, members of the criminal group organized and led by

S.K. - individual members of the Board of Directors of Electric Networks of Armenia CJSC, the CEO and his deputy, as well as other responsible persons, with the aim of stealing particularly large amounts of property belonging to the CJSC, committed abuse of control over the company's day-to-day operations, as provided for by the CJSC charter. This consisted of attracting loans in amounts not arising from the actual need to ensure the normal functioning of the company, and the subsequent unjustified provision of dividends to the company's shareholders, loans and advances to companies affiliated with the CJSC, as well as other organizations, as a result of which, with the purpose of embezzlement from attracted loan funds, a total of 23 billion 158 million 169 thousand 29 drams were illegally withdrawn from the CJSC in 2024-2025, provided as dividends to the shareholders of Electric Networks of Armenia CJSC - Liormand Holdings Limited CJSC and Tashir Capital CJSC, as a result of which the latter suffered particularly large losses: 36 billion 981 million 660 thousand drams, 23 billion 158 million 169 thousand 29 drams, and 4 billion 445 million 950 thousand 995 drams (total: 64 billion 585 million 780 thousand 24 drams).

Then, in order to launder the financial resources obtained as a result of the aforementioned criminal activity, the heads of executive bodies of more than a dozen organizations associated with

S.K. organized and created the illusion of the circulation of large financial resources within the framework of civil and corporate relations, disguised the criminal origin of the stolen financial resources, processed and mixed them with other income, thereby concealing the true origin of the property and funds obtained through criminal means, giving them a legitimate appearance, and committed money laundering, actually receiving criminal gain.

For the described acts, based on the investigator's petition, the prosecutor decided to initiate criminal proceedings against 36 individuals under Article 46-277, Part 2, Clauses 2 and 3 (abuse of official position or influence obtained through it in the private sector) (4 counts), Article 46-256, Part 3, Clause 3 (organizing the theft of entrusted property on an especially large scale) (2 counts), and Article 296, Part 3, Clauses 2 and 3 (money laundering on an especially large scale) of the Criminal Code of the Republic of Armenia.

The investigator decided to detain the aforementioned individuals, the execution of which was entrusted to the preliminary investigation body.

The preliminary investigation of the criminal case is ongoing.