New Charges Brought Against Serj Sargsyan’s Brother 

The Investigative Committee of Armenia has brought new charges against Armenia’s third President Serj Sargsyan’s brother, Lyova Sargsyan as part of the “North-South Highway” criminal case. The charges involve money laundering and abuse of genuine or assumed influence for self interest. Lyova Sargsyan is declared wanted, a motion has been sent to court to order a restraining order of detention.

According the statement of the Investigative Committee, the preliminary investigation of the “North-South Highway” criminal case has found out that despite the selection of subcontractors by the main contracting company based in Spain should have been conducted in agreement with the Client and Chief Engineer of the project, the Ministry of Communications and Infrastructure, the fact was that all these activities were coordinated by Lyova Sargsyan, Envoy for Special Tasks. He was in close contact with subcontractor “POLITTRANSPORT” LTD’s co-owners Suren and Gevorg Vardanyans.

The charges brought against Lyova Sargsyan describe schemes of financial fraud and embezzlement of a $250 million project, wherein subcontracting companies used the power and influence of Lyova Sargsyan, whose “favors” were returned in the form of 50% of profit received from the construction subcontract. These kick-back schemes were carried out through mechanisms of money laundering.

Lyova Sargsyan, against whom other charges exist for illegal enrichment and non-disclosure of significantly large property is a fugitive, and a search is declared for him.

Embezzlement and financial abuse charges are also brought against the other two men involved in the case, Suren and Gevorg Vardanyans. They are declared wanted, a detention warrant is obtained from court.