The court transferred the "Araratcement" plant to the state as part of the case against Tsarukyan.
The anti-corruption court transferred the company of the leader of the "Prosperous Armenia" party, Gagik Tsarukyan, "Araratcement" to state management, and the prosecution is also demanding the confiscation of other assets of the businessman. His center "Olimpavan" has been closed since the arrest, and children are forced to train on the street. The defense refuted the investigation's version in Tsarukyan's case, stating that he should have the status of a victim.
As reported by "Caucasian Knot", on July 7, the court arrested the leader of the opposition party "Prosperous Armenia", billionaire Gagik Tsarukyan, accused of fraud and tax evasion, for two months. Prior to this, on July 6, law enforcement conducted searches at Gagik Tsarukyan's home and in all his companies. Several opposition forces in Armenia called Tsarukyan's detention political persecution. During the election campaign in May, Pashinyan stated that the "Araratcement" plant, owned by Tsarukyan's family, would be nationalized. After that, the prosecution announced a case regarding violations during the privatization of the enterprise. Before the elections, the prosecution filed a lawsuit in court demanding the annulment of the privatization of the "Araratcement" enterprise. On July 9, the workers of the "Araratcement" plant managed to open the sealed enterprise, while Prime Minister Nikol Pashinyan threatened them with dismissals for participating in protests.
Other enterprises of the head of "Prosperous Armenia" Gagik Tsarukyan have not resumed operations since his arrest. On July 13, 14, and 15, their employees went out to protests, stating that they risk being left without means of livelihood.
"Araratcement" transferred to the state
The anti-corruption court granted the request of the General Prosecutor's Office and transferred the company "Araratcement" for safekeeping and under the management of the state, writes Yerevan Today.
As explained by the department, this decision was made within the framework of the judicial proceedings on the confiscation of illegally obtained property, in which the leader of the "Prosperous Armenia" party Gagik Tsarukyan and related persons are involved.
The prosecution also reminded that within the framework of this same lawsuit, they are demanding the recovery in favor of the Republic of Armenia of 75 real estate objects, 42 vehicles, shares in 38 companies, as well as cash and property of presumably illegal origin totaling about 106 billion drams (290 million US dollars).
"Olimpavan" center still sealed
Since the arrest of businessman, president of the National Olympic Committee of Armenia Gagik Tsarukyan, the doors of the "Olimpavan" center, which serves as a sports base for the committee, have been sealed. The trainees of "Olimpavan" today were forced to conduct training on the street, writes News.Am
There are 107 of them, of which, for example, only 20 can come to the hall located on Lenin Street, the rest cannot.
"Today these children need training, they are preparing for tournaments. We are trying to maintain the children's energy, lift their spirits, they must participate in competitions, there is no other option. There are 107 of them, of which, for example, only 20 can come to the hall located on Lenin Street, the rest cannot," said the coach, noting that although he was offered other halls for training, they are small and inconvenient for the athletes in terms of location.
The coach noted that he is sure that the ongoing processes will be lengthy, therefore, after the competitions, the athletes will go on vacation.
The lawyer stated about Tsarukyan's incorrect status
The lawyer of the arrested leader of the "Prosperous Armenia" party, entrepreneur Gagik Tsarukyan, Emin Khachatryan, stated that in the criminal case of money laundering, his client should have not the status of the accused, but the status of the victim, writes Armenia Today.
Khachatryan published documents that the defense, together with lawyers working in Iran, received from the competent authorities of Iran. These documents, he claims, contradict the factual grounds of the charges brought against Tsarukyan in the criminal case related to Iranian entrepreneurs.
According to the Investigative Committee, the participants of the alleged criminal group created and headed by Tsarukyan reached agreements on commercial cooperation with a number of Iranian entrepreneurs and created joint companies. Tsarukyan himself called the charges against him "lies" and "nonsense". According to the Investigative Committee, this cooperation was used as a cover for the importation from Iran to Armenia of 52 units of vehicles, equipment, fuel, and other goods for the purpose of subsequent fraudulent theft. According to the investigation, the value of the allegedly stolen property amounted to about 8.1 billion drams (approximately $21 million).
Tsarukyan should have not the status of the accused, but the procedural status of the victim
According to the lawyer, Tsarukyan's concern "Multi Group" filed two complaints with the competent authorities of Iran regarding the Iranian representatives of the deal. The first complaint was filed on February 14, 2026, against Arman Olamai, Erfan Olamai, and Hamlet Tumanyan on the grounds of fraud, forgery of documents, abuse of trust, illegal acquisition of property, and money laundering. The second complaint was filed by the company on May 31 against Arman Olamai, Erfan Olamai, Hamlet Tumanyan, and Khadzhiali Olamai. According to the lawyer, in addition to the previously stated episodes, it contains accusations of criminal conspiracy aimed at misappropriating someone else's property, legalizing funds, as well as illegally appropriating an official title and position. According to Khachatryan, both complaints also contain information about the transfer to Tsarukyan of $7.5 million, €7 million, and 20 million drams. He added that, according to the data of the official information system of the judicial authority of Iran, the cases initiated based on both complaints have been accepted for consideration.
The lawyer emphasizes that the cases initiated in Iran contradict the version of the Armenian investigation, according to which Tsarukyan acted as part of a group together with Hamlet Tumanyan, while Arman and Erfan Olamai are recognized as victims.
"The presented documents once again confirm the position of the defense that Tsarukyan should have not the status of the accused, but the procedural status of the victim," said Khachatryan.
Tsarukyan's party "Prosperous Armenia" along with other Armenian political parties previously issued a statement about the illegitimacy of the authorities and plans to seek their removal.