Armenian court keeps Prosperous Armenia leader Tsarukyan in custody

A court in Yerevan has extended the detention of businessman and Prosperous Armenia party leader Gagik Tsarukyan by two months, his lawyer Emin Khachatryan said.

The decision followed a six-hour hearing on September 3. Tsarukyan's previous detention order was due to expire on September 7, Caliber.Az reports, citing foreign media.

Tsarukyan and another defendant are accused of fraud and money laundering involving $21 million in connection with activities of the Armenian-Iranian Chamber of Commerce between 2022 and 2024.

Tsarukyan also faces an allegation of the “fraudulent misappropriation of $934,000” in a fuel supply deal involving an Iranian citizen.

On July 6, Tsarukyan was detained after searches at his residence and businesses. He was later questioned by investigators.

He faces charges including large-scale fraud and money laundering, with investigators alleging that schemes involving Armenian-Iranian business ventures caused more than $21 million in losses to the Armenian state.

Tsarukyan, who leads the Prosperous Armenia Party, denies the allegations and says the case is politically motivated.

By Aghakazim Guliyev