Armenia’s finance minister under criminal probe over business ties

Armenia’s Finance Minister Vahe Hovhannisyan has been named in a criminal case currently under preliminary investigation by the country’s Anti-Corruption Committee. 

The probe is linked to allegations of illicit involvement in business activity while holding public office.

The Anti-Corruption Committee confirmed to Sputnik Armenia that it is investigating a case under Part 1 of Article 442 of Armenia’s Criminal Code, which pertains to the illegal participation of an official in entrepreneurial activity.

The case stems from a formal complaint submitted on December 4, 2024, by Ara Zohrabyan, rector of the Academy of Lawyers, along with a group of attorneys, who called on the Prosecutor General’s Office to initiate criminal proceedings against Hovhannisyan. They alleged that the minister’s actions carried corruption risks.

Although the Anti-Corruption Court initially declined to launch proceedings in a ruling dated February 27, 2025, that decision was overturned by the Court of Appeal in early April. The appellate court instructed that criminal proceedings be initiated, prompting the ongoing investigation.

The allegations centre on Hovhannisyan’s alleged connections with Caritas-Italiana, an IT development company that received state benefits under Armenia’s start-up support programme.

The suspicion is that the finance minister may have had improper ties to the company, despite holding public office — a potential breach of Armenia’s legal provisions governing official conduct.

By Tamilla Hasanova