Armenia files another criminal case against ex-president’s son-in-law

The Armenian Prosecutor General's Office has initiated a new criminal case against Mikael Minasyan, the son-in-law of Armenian ex-President Serzh Sargsyan.

The accusation was brought as part of the notorious case on the sale of the Dzora Hydro Power Plant, in which former Defence Minister Seyran Ohanyan was also involved, Caliber.Az reports, citing the Armenian media.

A criminal case into the sale of the hydroelectric power plant at a small price was initiated in the spring of 2020.

According to the investigation, in 2010, by a secret government decision signed by the Minister of Defence and in violation of a number of laws, the block of shares of Dzora Hydro Power Plant CJSC worth 4,646,400 billion drams (about $9 million at the exchange rate in effect at the time) was alienated for 3,600 billion drams ($7 million) in favour of Dzoraget Hydro Company.

Later, under the pretext of encouraging the development of hydropower in the country, but in fact to create benefits for Dzoraget Hydro LLC, members of the commission regulating public services unanimously approved the government's decision.

Thus, Dzoraget Hydro with a capacity of 26.4 MW was included in the list of small hydroelectric power plants (tax benefits were envisaged). As a result, according to the calculations of the investigative bodies, Dzoraget Hydro received additional profit worth more than 3.7 billion drams (about $9.6 million) in 2012-2016.

In this regard, Minasyan is accused of legalising proceeds obtained as a result of a crime. According to the prosecutor's office, the ex-president's son-in-law concealed the fact that he is the beneficiary of 30 per cent of the company's shares, as a result of which he received 1.1 billion drams ($2.9 billion) as dividends in 2011-2016. Minasyan disguised some of these funds along with his other income.

Minasyan was the first deputy head of the presidential administration in 2008-2012. He served as ambassador of Armenia to the Vatican in 2013-2018. He is currently wanted on a number of other cases.