Ex-Chairman of the Armenian State Revenue Committee and former Minister of Finance, now under arrest for large-scale embezzlement and abuse of official power, will remain behind bars pending his trial.

Armenia’s Criminal Court of Appeals denied a motion filed by Khacatryan’s lawyers to have their client released on bail.

Gagik Khachatryan was arrested on August 27, after law enforcement agents searched his home.

A freeze has also been placed on Khachatryan’s property. His lawyers have also petitioned the courts to have the freeze removed.