Levon Hayrapetyan, the native Artsakh businessman arrested in Moscow on July 15, has been officially charged with embezzlement and illegal money laundering by a Russian investigative body according to ITAR TASS.

Hayrapetyan, 65, has pleaded not guilty.

A Russian court has issued a three month pre-trial detention order for Hayrapetyan and has placed a freeze on his shares in Bashneft, a Russian oil company, that are worth some US$8.5 million.