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Investigators have filed a motion with the court to place former Minister of Economy Vahan Kerobyan in pre-trial detention following his arrest on charges of money laundering and the illegal takeover of municipal lands in Yerevan.
Investigative Committee spokesperson Kima Avdalyan said that a total of nine individuals have been arrested amid the ongoing investigation, and investigators have asked the court to remand them in pre-trial detention. Another three individuals are wanted.
While no details are available on Mr. Kerobyan’s alleged wrongdoing, authorities have said that the case pertains to his alleged actions in 2008–2014, when he was a senior business executive.
The proceedings relate to an alleged "corruption scheme" carried out by a "criminal syndicate" between 2008 and 2014, during which 73.8 hectares of land plots belonging to Yerevan city were illegally removed from the municipal property stock using forged documents and used to fraudulently obtain loans and launder money, according to investigators.
The Investigative Committee said it has obtained documents and other evidence in the course of the criminal investigation.
Kerobyan served as Economy Minister from 2020 to 2024.