Armenia’s Anti-Corruption Court ruled today to detain former President Robert Kocharyan for two months.

Kocharyan, and his eldest son Sedrak, were taken into custody on Tuesday as part of a major corruption investigation.

According to an official statement released by Armenia's Anti-Corruption Committee (ACC), Kocharyan is accused of exploiting his presidential office between 1998 and 2008 to amass a vast family fortune through bribes and the heavily discounted, illegal acquisition of state property.

The prosecutor’s office alleges that these transactions were often executed without tenders and followed prearranged schemes.

State investigators are scrutinizing a staggering volume of financial wire transfers linked to Kocharyan's son between 2001 and 2019, totaling approximately AMD 144 billion, US$ 309 million, €77 million, and 18 million rubles.

Authorities have detained six people, including Kocharyan and his eldest son, Sedrak, searched several family-owned properties, and begun sealing off related businesses, including a Toyota dealership and the Orange fitness club.