Armenia opens fresh criminal case against former president’s son-in-law

A criminal case has been opened against Mikayel Minasyan, the former Armenian Ambassador to the Vatican and son-in-law of ex-President Serzh Sargsyan.

According to the Armenian Prosecutor’s Office, three key episodes of the case have already been submitted to the court, with charges revolving around large-scale money laundering schemes and the creation of fictitious structures, Caliber.Az reports, referring to Armenian media.

Among the defendants are Vazrik Sekoyan, General Director of Yerevan Mall, and businessman Arshak Poghosyan. The investigation alleges that between 2013 and 2014, a coordinated group —including Poghosyan and Sekoyan — concealed the origins of illicit funds through fraudulent transactions.

Authorities claim that Minasyan’s companies executed fictitious loan agreements, resulting in large financial transfers:

• €6.67 million
• $2.764 million

These amounts were funnelled into offshore accounts controlled by Minasyan, where they were mixed with other illicit assets. The prosecution asserts that 3.2 billion drams (about $8 million) from these funds were used to purchase a 30% stake in Yerevan Mall, with ownership disguised under Sekoyan’s name as a front.

In 2019, investigators say Minasyan attempted to further obscure the real ownership of the mall. A fictitious contract was allegedly drafted between his controlled entities to make it appear as though the shares had changed hands, while actual control remained with him.

Minasyan and Poghosyan are also accused of illegally establishing legal entities for unlawful financial activities. Between 2013 and 2018, approximately 2 billion drams (about $5 million) were transferred via fictitious contracts, evading 1.5 billion drams (about $3.7 million) in taxes. Additionally, authorities claim that 11 billion drams (about $27.7 million) from illegal sources were funnelled into the DoubleTree by the Hilton hotel complex, securing Minasyan a 46.3% ownership stake.

Investigators have classified these activities as large-scale money laundering. As a result:

• Vazrik Sekoyan has been placed under house arrest
• Arshak Poghosyan is under a travel ban, preventing him from leaving Armenia

By Tamilla Hasanova