Director of 'Multi Group' Accused of Offering $20 Million Bribe

The director of 'Multi Group' company, Sedrak Arustamyan, is accused of offering a bribe of approximately $20 million. This was reported to NEWS.am by Arustamyan's lawyer, Hovik Sukiasyan.

It should be noted that Arustamyan was arrested for two months on April 25 by a decision of the court of first instance in Yerevan. Sukiasyan stated that an appeal against the arrest decision will be submitted today or tomorrow.

"About 10 years ago, he provided two individuals with a loan based on a contract, with an annual interest rate of 4%. However, the terms of these contracts have been extended twice; they are active contracts with legal value. We are talking about an amount equivalent to approximately $20 million. There is a legal obligation here; a contract exists," Sukiasyan stated.

In addition to this criminal case, Sedrak Arustamyan has been charged with two other offenses. He is accused of violating legislative requirements during the construction of a hotel complex on Abovyan Street under Article 315.1 of the Criminal Code of the Republic of Armenia (failure to cease the unlawful occupation of state or community-owned land plots and failure to eliminate the consequences, as well as failure to cease the construction of unlawful buildings and the demolition of illegal structures).

The other criminal case pertains to the construction of the 'North-South' road, in which Sedrak Arustamyan has also been charged. A decision was made to imprison him, but he was released on bail. He has been charged with money laundering in particularly large amounts, creating or leading a financial pyramid, as well as tax evasion.