Bankomat

Abovyan accuses authorities of trying to dismantle Tsarukyan’s business

News|2026/10/12 06:02
Abovyan accuses authorities of trying to dismantle Tsarukyan’s business

The Prosperous Armenia representative says the pressure is also hitting parts of the economy.

Arman Abovyan, a member of the Prosperous Armenia Party, has criticized the Court of Appeal’s decision to uphold the detention of party leader and businessman Gagik Tsarukyan. In a Facebook post, he said the authorities were trying to destroy Tsarukyan’s business, while also damaging entire sectors of the economy.

According to Abovyan, the pressure is leaving thousands of people without a way to earn their daily income. He also argued that Tsarukyan had shown it was possible to build a strong economy without relying on Turks or Azerbaijanis.

Abovyan linked the pressure on Tsarukyan to his political stance, saying he had advocated Armenian unity, dignity and what he described as genuine peace rather than a humiliating ceasefire.

On July 6, it emerged that law enforcement officers had entered the residence of Prosperous Armenia Party leader Gagik Tsarukyan, as well as companies belonging to his Multi Group conglomerate, where searches were being carried out. The premises were sealed and operations were suspended.

Tsarukyan was arrested later that day and placed in pretrial detention the following day. Armenia’s Investigative Committee said the actions were based on evidence obtained in one of the criminal cases handled by its General Department for the Investigation of Economic Crimes and Smuggling.

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