Nine detained in Armenia’s high-profile case against ex-economy minister

The number of detainees in the criminal case involving former Armenian Minister of Economy Vahan Kerobyan has reached nine, the Armenian Investigative Committee announced, according to Armenian media reports cited by Caliber.Az.

All nine detainees are accused of money laundering and the misappropriation of a 73.8-hectare land plot. The Investigative Committee has submitted petitions to the court seeking their formal arrest.

Former Minister Vahan Kerobyan was detained earlier as part of a large-scale criminal investigation into money laundering and illegal land privatisation schemes that allegedly took place between 2008 and 2014.

According to the Investigative Committee, members of a criminal group that included government officials and business figures are suspected of laundering millions of dollars through the illegal acquisition and mortgaging of state-owned land.

The case reportedly centres on the owner of a wine and cognac enterprise who, with the assistance of employees of the Real Estate Cadastre Committee, is believed to have unlawfully privatised three large land plots in Yerevan — measuring 40, 19.3, and 14.5 hectares.

Investigators allege that these land plots were later mortgaged to several banks, enabling the group to obtain loans totalling more than $10 million. The scheme is said to have continued when a former division head at the Cadastre Committee issued ownership certificates illegally, thereby facilitating money laundering through fictitious civil transactions.

Searches have been carried out at the residences of those involved, resulting in the seizure of materials considered significant to the case.

The investigation is ongoing.

By Tamilla Hasanova