Samvel Karapetyan's pretrial detention extended for another two months

YEREVAN, November 18. /ARКА/. The Anti-Corruption Court of Armenia has prolonged the pretrial detention of Samvel Karapetyan, president of Tashir Group and philanthropist, for an additional two months, as reported by his attorney, Aram Vardevanyan.

He pointed out that the license of Electric Networks of Armenia (ENA) CJSC, which is owned by Samvel Karapetyan, was "illegally terminated" the previous day.

"It was indicated that discussions with the owner would take place over a three-month period. Are they planning to negotiate at the Yerevan penitentiary? This is reminiscent of terrorist actions. Terrorists also take hostages," Vardevanyan remarked.

He asserted that there has been no legitimate legal procedure from the beginning, and the court's rulings are founded on reports from the Haykakan Zhamanak newspaper (which is owned by the Prime Minister's family - ed.), which had earlier disclosed the extension of Karapetyan's pretrial detention for two months.

The day prior, following the approval by the Public Services Regulatory Commission of the Republic of Armenia to revoke ENA's license, PSRC chairman Mesrop Mesropyan announced that the Armenian authorities would now engage in negotiations with the owner or the Board of Directors of Electric Networks of Armenia CJSC concerning the transfer of property rights.

The commission referenced violations identified during a four-month investigation as the justification for revoking ENA's license.

The Electric Networks of Armenia CJSC manages medium and low-voltage distribution networks in Armenia, serving approximately 1 million customers. Since 2016, ENA's owner, Tashir Group, has invested approximately $680 million in modernization alone, with an additional $150-200 million invested in creating new capacity.

Tashir Group President Samvel Karapetyan has been in custody since June 18, 2025. By decision of the Anti-Corruption Court, his arrest has been extended until November 17. He is charged with three counts: "public calls for the seizure of power" (following his statements about his support for the Catholicos of All Armenians and the Armenian Apostolic Church), large-scale tax evasion, and money laundering.

Earlier, Armenian Prime Minister Nikol Pashinyan suggested the possibility of nationalizing ESA or selling it to "an international, reputable specialized company, while retaining the government's stake." He stated that the decision regarding ENA depends on the price, which must be determined based on a comprehensive analysis.-0-