Armenian opposition leader arrested on fraud charges

Gagik Tsarukyan, a prominent opposition leader and billionaire businessman in Armenia, has been ordered to remain in pre-trial detention for two months. Tsarukyan, who leads the pro-Russian party Prosperous Armenia, was detained on Monday facing charges of large-scale fraud and money laundering.

According to Armenian media reports, Tsarukyan and an associate are under investigation for the illicit import of vehicles, machinery, and fuel from Iran between 2022 and 2024. The total value of these alleged transactions is estimated at approximately $21 million. The Investigative Committee of Armenia confirmed the charges against Tsarukyan.

Security forces conducted searches at around 70 locations linked to Tsarukyan's business empire, which includes a cognac factory, cement plant, and sports complex. This arrest occurs shortly after Prime Minister Nikol Pashinyan secured a victory in the recent elections. Following his win, Pashinyan had labeled three main opposition groups, including Tsarukyan's party, as "three-headed warrior spy parties."

Opposition groups have decried the detention and arrest orders against Tsarukyan and his associates as politically motivated. They have also alleged irregularities in the recent elections, though their appeal to annul the results was rejected by the Central Election Commission. Tsarukyan's lawyers have stated they will appeal any potential conviction.