Vachagan Ghazaryan Ready to Return 6 Million Dollars to the State

Vachagan Ghazaryan, the former head of the security detail for Armenia's third president Serzh Sargsyan, has issued a statement.

"I have presented to the investigative body the sources of funds that have been in the bank accounts of my wife and me for about ten years, as well as the cash seized during the search of our apartment.

In particular, I have stated that a significant portion of these funds belongs to a well-known businessman and philanthropist who resides outside of Armenia and is my close friend, whose details I do not consider appropriate to disclose at this time.

The sources of these funds are legitimate, and evidence has been submitted to the investigative body regarding this. These funds were obtained before the criminalization of illegal enrichment, i.e., before July 1, 2017.

There are attempts by various state bodies, instructed by the investigative body to confiscate these specified funds for the benefit of the state, to connect me and my family members with several companies and businesses through different means. Properties and financial resources belonging to individuals related to me through blood or kinship are under illegal detention. Tax audits are being conducted on companies unrelated to me, and the results are being attempted to be linked to my name or the aforementioned financial resources.

I believe that these circumstances also explain the subjective stance of the judicial bodies, which continue to reject all justified motions for my release on bail and accept the unsubstantiated arguments of the investigative body as the basis. In such conditions, I fear that the court may extend my detention without sufficient grounds.

Regardless of all this, my friend and I are ready to transfer all the mentioned financial resources, amounting to approximately 6 million dollars, to the state for the implementation of programs aimed at strengthening the security of the Republic of Armenia and Artsakh or for other state needs, subject to the agreement of the investigative body,” the statement reads.

It should be noted that Vachagan Ghazaryan is currently in custody. He is accused of money laundering and illegal enrichment.