PAP Representative: The Fabricated Criminal Case Against Gagik Tsarukyan Cannot Continue Indefinitely

ArmInfo. The fabricated criminal case against businessman Gagik Tsarukyan, leader of the Prosperous Armenia Party, cannot continue indefinitely, and truth and justice will prevail sooner or later. This was written by Iveta Tonoyan, press secretary of the Prosperous Armenia Party, on her Facebook page.

She noted that Gagik Tsarukyan's pretrial detention was extended for another three months. Tonoyan emphasized that during yesterday's court hearing, Gagik Tsarukyan's defense team convincingly refuted the charges against him, declaring them completely baseless.

"There are no compelling reasons to keep Gagik Tsarukyan in custody. However, in modern Armenia, where justice is selective, such decisions are made." Nevertheless, as Gagik Tsarukyan himself said during yesterday's court hearing: "This too shall pass, life will put everything in its place." We are convinced that this fabricated criminal case cannot continue indefinitely, and truth and justice will prevail sooner or later. No matter how much effort is made to make justice selective or arbitrary, the principle of the rule of law must remain unshakable. We believe that Gagik Tsarukyan will be freed very soon, and justice will prevail," Tonoyan concluded.

As a reminder, the investigation accuses Gagik Tsarukyan of crimes under several articles of the Criminal Code relating to fraud, extortion, and money laundering. Sedrak Arustamyan, head of the Multi Group concern, and seven other individuals are also involved in this case. The Investigative Committee believes that Tsarukyan and other individuals falsified customs declarations and documents, resulting in significant damage to the state or the entities involved (including instances of theft of property worth approximately 8.1 billion drams). On July 7, 2026, a Yerevan court ordered Gagik Tsarukyan's pretrial detention for two months. The politician's defense attempted to appeal the decision. In October 2026, the Compulsory Enforcement Service of Armenia, based on decisions of the Anti-Corruption Court, imposed a large-scale seizure of property and assets associated with Tsarukyan. Approximately 29 real estate properties, 33 vehicles, and 488 units of movable property were seized. A separate ban on changes in ownership was imposed on Tsarukyan's properties in the coastal area of Lake Sevan. Seizures have also been placed on Tsarukyan's shares in 27 different companies, as well as on the shares and stocks of 40 legal entities that are associated with him.