Former Armenian President Serzh Sargsyan Faces Corruption Charges

Serzh Sargsyan has been formally charged with bribery and illegal entrepreneurship, Orda.kz reports, citing News-Armenia.

According to the report, Armenia’s Anti-Corruption Committee has completed its investigation and forwarded the case to court. The charges relate to alleged offenses committed during Sargsyan’s time in office as president, as well as before his election.

The Committee claims the scheme began in 2006, prior to Sargsyan’s presidency, and continued into his term.

Investigators allege that several businesses in Armenia — including a bitumen plant, a gas station chain, and an oil depot — were officially registered to his relatives and associates but were actually under his control.

Sargsyan has been charged under two articles of the Armenian Criminal Code. The first concerns accepting a particularly large bribe.

Authorities say he received a stake in a company established in 2006 by a close acquaintance.

Sargsyan demanded that his acquaintance transfer 22.5% of the shares in this company as a bribe to a firm founded by his nephew and the son of the second President of Armenia. On March 14, 2008, the share was formally sold to the said firm, and investments were also made in this enterprise, News-Armenia cites the Anti-Corruption Committee as saying.

The second charge concerns engaging in illegal business activities while holding public office.

Original Author: Igor Ulitin