A court has ordered former Multi Group Concern Director General and Chairman of the Board Sedrak Arustamyan, who was detained on August 5, to remain in pretrial detention for two months.
Yerevan’s Court of General Jurisdiction granted the investigators’ motion and selected detention as the preventive measure against Arustamyan, Factor.am reported.
Earlier, the Investigative Committee announced that it is examining criminal proceedings launched over the alleged fraudulent misappropriation of property and funds worth 21,072,827 U.S. dollars, equivalent to 8,126,946,460 Armenian drams, on the part of Gagik Tsarukyan and other individuals, as well as the alleged laundering of those assets.
Based on sufficient evidence obtained during the investigation, public criminal prosecution has been initiated against the concern’s former Director General and Chairman of the Board, S.A. (Sedrak Arustamyan — editor’s note), and the company’s director, A.D. (Artur Dallakyan — editor’s note). They have been charged under Article 46-255, Part 3, Clause 3 of the Criminal Code (complicity in fraud on an especially large scale) and Article 46-296, Part 3, Clause 3 (complicity in money laundering on an especially large scale).
