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Araks Mamulyan

Bail Denied: Former Head of Armenia's State Revenue Committee to Remain in Detention

Former Armenian State Revenue Committee (SRC) Chairman Gagik Khachatryan, already detained for six months on charges of large-scale embezzlement and abuse of official power, will remain behind bars for another two months.

Yerevan’s Court of First Instance today rejected a motion that Khachatryan be released on bail and approved a motion by the National Security Service (NSS) that Khachatryan remain detained while the case is investigated further.

According to the State Prosecutor’s Office, the amount suggested by Khachatryan’s defense team was AMD 7.5 billion ($15.8 million).

Gagik Khachatryan’s nephew Karen Khachatryan has also been similarly charged and is now in detention as well.

According to the NSS, other former officials of the SRC and the Ministry of Finance are also involved in the above-mentioned criminal case.

Khachatryan denies the charge that he embezzled/squandered close to AMD 7 billion while heading the SRC.

Gagik Khachatryan’s lawyer, Yerem Sargsyan, has said that his client’s family is ready to deposit a sum equal to the alleged squandered amount so that Khachatryan can be released for what they describe as urgent medical care.


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