Yerevan court extends detention of Russian tycoon Samvel Karapetyan

The Anti-Corruption Court in Yerevan has extended the detention of Russian billionaire Samvel Karapetyan, head of the Tashir Group, for an additional two months.

Karapetyan’s lawyer Liana Gasparyan said the defence plans to appeal the ruling, Caliber.Az reports, citing Armenian media.

The court session lasted nearly 10 hours.

Karapetyan was initially taken into custody in June after he publicly called for the overthrow of Armenia’s government. He accused the authorities of waging an anti-church campaign and vowed to intervene “in his own way” to stop it. Officials in Yerevan said his remarks amounted to a threat to seize power.

Following his arrest, a separate criminal case was launched over alleged large-scale money laundering and tax evasion linked to the Tashir Group. Four company employees were detained as part of the investigation.

In a related move, the Armenian Cabinet of Ministers announced it would nationalise Electric Networks of Armenia — a company owned by Karapetyan — and put it up for auction.

By Tamilla Hasanova