Former Executive Director of Multi Group Sedrak Arustamyan Detained for Two Months

The former executive director and chairman of the board of the Multi Group concern, Sedrak Arustamyan, has been detained for two months. This was announced by the Prosperous Armenia party during the night.

Earlier, the Investigative Committee reported on the arrest of Sedrak Arustamyan. According to the Committee, a criminal case has been initiated regarding the alleged embezzlement of property and monetary resources equivalent to 8 billion 126 million 946 thousand 460 drams (approximately 21 million 72 thousand 827 US dollars), as well as money laundering.

The law enforcement agencies assert that this situation pertains to potential cases of embezzlement carried out through deception and the subsequent money laundering.