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Sedrak Arustamyan Detained for 2 Months

News | 2026/08/06 02:00

Sedrak Arustamyan Detained for 2 Months

Former Multi Group director detained on charges of fraud and money laundering

Former CEO of the Multi Group concern, Sedrak Arustamyan, has been detained for 2 months.

According to the Investigative Committee, an investigation is underway regarding the fraudulent appropriation of assets and funds equivalent to 21 million 72 thousand 827 USD, which is approximately 8 billion 126 million 946 thousand AMD, by G. T. and others.

Based on sufficient evidence, public criminal prosecution has been initiated against the former CEO, Chairman of the Board S. A., and the company's director A. D. under Article 46-255, part 3, point 3 (aiding in fraud in a particularly large amount) and Article 46-296, part 3, point 3 (aiding in money laundering in a particularly large amount) of the Criminal Code.

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