RA Investigative Committee reports  extortion case of $2.5 million by  Gagik Tsarukyan

ArmInfo. The Investigative Committee of the Republic of Armenia reports the  exposure of a new crime allegedly committed by the leader of the  "Prosperous Armenia" party, businessman Gagik Tsarukyan, and his  associates.

As reported by the Investigative Committee press service,  comprehensive preliminary findings from the investigation indicate  that in 2008, G.Ts. (Gagik Tsarukyan) met with Lebanese-Armenian  businessman G.T. and proposed a joint venture for the sale of gold  jewelry. The company underwent state registration in 2009, with G.Ts.  and G.T. listed as equal shareholders holding 50% shares each, while  S.A. (Sedrak Arustamyan) was appointed as the general director.

Subsequently, in mid-2009, G.Ts. proposed building a water treatment  plant in the village of Akunk in the Kotayk Province, agreeing on a  joint land purchase in Akunk. Under the agreement, G.Ts.'s company  undertook the construction of the plant building, while G.T. was  responsible for purchasing and transporting the production line to  the Republic of Armenia. Between December 2009 and August 5, 2010,  G.T. shipped 19 units of necessary equipment for the water treatment  facility to Armenia, though packaging equipment could not be  delivered on schedule due to inaction by the supplier company.

Following this, on August 17, 2010, S.A. and G.Ts. allegedly coerced  G.T. at the private residence of G.Ts.  in the village of Arinj,  threatening violence to compel him to sign documents. A notarized  deed was signed on the same day transferring the 50% company share to  S.A. and G.Ts., amounting to a large-scale extortion scheme valued at  $2.5 million under duress.  Additionally, authorities state that  G.Ts. and S.A. sought to conceal and distort the criminal origins of  the gold jewelry and the 50% company share by integrating them into  the legitimate commercial operations of affiliated entities, thereby  masking the unlawful acquisition through extortion as legal  transactions, constituting large-scale money laundering.

Based on the gathered evidence, criminal proceedings were initiated  against G.Ts. and S.A. pursuant to Article 182, Part 3, Clause 2  (extortion on a particularly large scale) and Article 190, Part 3,  Clause 1 (legalization of property obtained by criminal means on a  particularly large scale, i.e., money laundering) of the Criminal  Code adopted on April 18, 2003. Given that G.Ts. and S.A. are already  in custody in connection with a separate criminal case investigated  by the  Investigative Committe of Armenia, no additional preventive  measures were applied.