YEREVAN (Realist English). Armenia’s Anti-Corruption Committee has referred a criminal case to court against Serzh Sargsyan, who served as the country’s defense minister, prime minister, and president between 2000 and 2018. The former head of state is charged with engaging in commercial activity through proxies and receiving bribes of particularly large amounts.
According to the investigation, Sargsyan used his official position to facilitate the creation of companies controlled by close associates and was directly involved in managing their business operations. One of the key projects under scrutiny is the construction of a bitumen plant in the village of Surenavan, launched under the guise of attracting foreign investment.
The investigation claims that in 2006, Sargsyan ensured that half of a newly established company’s shares were assigned to his associate, while the remaining half went to two Russian firms registered in Cyprus. Later, Sargsyan demanded that 22.5% of the shares be transferred to a company founded by his nephew and the son of Armenia’s second president, effectively as a bribe.
When the project failed in 2013, Sargsyan allegedly arranged for a $14 million bank loan to repay the Russian investors. The assets — including a bitumen plant, oil depot, and over 20 gas stations — were later consolidated into a new firm, which in 2015 was sold to a company linked to Sargsyan’s son-in-law for $40 million. This move granted the buyer de facto monopoly over gasoline imports into Armenia.
The charges also state that Sargsyan demanded an additional $6 million payment to the son of Armenia’s second president, purportedly as compensation for the earlier bribe — disguised as a loan.
The former president now faces charges of large-scale bribery and unlawful participation in entrepreneurial activity. The pre-trial investigation is complete, and the indictment has been submitted to Armenia’s Anti-Corruption Court.
Under Armenian law, a suspect or accused person is presumed innocent until proven guilty by a court ruling that has entered into legal force.