Sedrak Arustamyan, former CEO and Chairman of the Board of Directors of Multi Group concern, has been arrested for a period of two months. The Yerevan Court of General Jurisdiction granted the motion filed by the investigative body, selecting detention as a preventive measure.
The Investigative Committee is probing a criminal case involving Gagik Tsarukyan and other individuals, concerning the misappropriation of over 8 billion drams and money laundering. According to law enforcement authorities, the assets in question are equivalent to approximately 21 million US dollars.
Based on the evidence obtained, public criminal prosecution has been initiated against Sedrak Arustamyan and another director of the company, Arthur Dallakyan. They are charged with complicity in large-scale fraud and money laundering.
This arrest marks the latest development in a broad investigation related to financial transactions involving Multi Group. The complexity of the case is driven not only by the massive scale of the alleged misappropriation but also by the scope of individuals involved, which extends to businessman and politician Gagik Tsarukyan.
It is noteworthy that the charges pertain not only to direct fraud but also to assisting in money laundering, which suggests the presence of complex financial schemes. In the coming weeks, the investigation must determine the specific roles played by the mentioned individuals in these processes. Further details are expected in the near future, which will shed light on the outlook of this case.
