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The Anti-Corruption Court has extended the pre-trial detention of former President Robert Kocharyan’s eldest son, Sedrak Kocharyan, for another two months.
He was placed in pre-trial detention on August 26 on charges of money laundering on an especially large scale, as well as aiding and abetting abuse of official powers and the receipt of bribes on an especially large scale.
According to a statement released by the Anti-Corruption Committee, the criminal proceedings concern the circumstances surrounding the alienation of several state-owned properties and subsequent transactions during Robert Kocharyan's presidency.
Investigators allege that the properties were transferred out of state ownership and sold at prices significantly below market value to individuals and companies affiliated with the former president, while subsequent transactions were used to conceal their actual ownership and alleged criminal origins.
The statement specifically referred to transactions involving Play City entertainment center, Kaputak Sevan resort complex, Orange Fitness club, and Toyota Yerevan.
Former President Robert Kocharyan is also in pre-trial detention in the same case. Both father and son deny wrongdoing.