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Tycoon Samvel Karapetyan, the owner of the Tashir Group of Companies, has been denied bail by a Yerevan court after nearly two months in pre-trial detention.
The court ruled to extend the pre-trial detention for another two months, Karapetyan’s lawyers have said.
Karapetyan will appeal the ruling to a higher court, they said.
The businessman was arrested on June 18 on charges of publicly calling for an overthrow of government, an accusation stemming from an interview.
He has denied wrongdoing.