Armenian MP’s accounts frozen amid legal feud with detained tycoon

A court in Armenia has ordered the freezing of bank accounts belonging to Arsen Torosyan, a Member of Parliament from the ruling Civil Contract party, following a lawsuit initiated by prominent businessman Samvel Karapetyan, the owner of the Tashir Group.

As reported by Yerevan-based Hraparak newspaper, Karapetyan filed a legal complaint seeking to have statements made by Torosyan in the National Assembly declared defamatory, per Caliber.Az.

In addition to a retraction and a public apology, the businessman is demanding financial compensation of 9 million Armenian drams (approximately $23,000).

The court has accepted the lawsuit and implemented a precautionary measure by freezing Torosyan’s accounts while proceedings are underway.

Torosyan has responded to the development by rejecting the court’s decision, calling it baseless and politically charged. He has submitted a formal request to have the freeze lifted.

“I am not going to sell my property and flee Armenia, especially out of fear of Samo,” Torosyan stated in a social media post, using a familiar nickname for Karapetyan.

Samvel Karapetyan, owner of the Tashir Group of Companies, was arrested on June 18, 2025, on charges of attempting to incite an illegal seizure of power. His detention has intensified an already tense political standoff between Prime Minister Nikol Pashinyan’s administration and the Armenian Apostolic Church, which Karapetyan has openly supported.

Following his arrest, Armenian law enforcement agencies launched a series of raids targeting Karapetyan’s business empire. Several top executives linked to Electric Networks of Armenia (ENA), a subsidiary of Tashir, were also detained. Authorities have opened multiple criminal investigations into alleged offences, including money laundering, tax evasion, and other financial crimes.

By Tamilla Hasanova