Thursday, October 29, 2020

Armenia businessman accused of giving $20 million in bribes

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Sedrak Arustamyan, the director of Multi Group company of Armenia, is accused of giving about US$20 million in bribes. Arustamyan’s lawyer Hovik Sukiasyan on Monday informed Armenian News-NEWS.am about this.

To note, by the decision of a Yerevan court on April 25, Arustamyan has been arrested for two months.

Sukiasyan said that he will file an appeal against the arrest decision.

“About 10 years ago, under a contract, he lent money to two people at an interest rate of 4% per annum,” Sukiasyan said. “But the terms of those contracts have been extended twice, they are valid contracts, they have legal value; it is about the equivalent of about 20 million US dollars. There is an obligation right here, there is a contract.”

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Touching upon the issue of the spread of COVID-19 in penitentiaries, too, the attorney said that his client is in the respective risk group. “Arustamyan is over 60,” he said. “He has a heart problem that we have voiced in court.”

To note, in addition to the aforesaid criminal case, Sedrak Arustamyan was also charged with two other charges. He is accused of failing to comply with the requirements of the law during the construction of a hotel in downtown Yerevan.

And the other criminal case concerns the construction of the North-South road corridor, in the framework of which he is charged with large-scale money laundering, creating or managing a financial pyramid, as well as tax evasion.

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