Former MP Vahe Hakobyan's Brother Arrested

The director of the "Pure Iron" factory, Karen Hakobyan, has been arrested. This was confirmed by Gor Abrahamyan, spokesperson for the Investigative Committee of Armenia, in a conversation with Sputnik Armenia.

“Karen Hakobyan has been arrested as a suspect within the framework of the criminal investigation conducted by the main investigative department for economic crimes and smuggling,” he said.

It is noteworthy that according to PARA TV, a group of police officers stormed the residence of Karen Hakobyan, director of the "Pure Iron" factory, today.

“At the time, Hakobyan was at his workplace, at ‘Pure Iron’, preparing to receive a delegation from Germany. Having learned about the police raid and wishing to clarify what was happening, he voluntarily presented himself to the Investigative Committee despite his workload,” the media outlet reported.

Karen Hakobyan is the brother of Vahe Hakobyan, a former head of the ‘Renaissance Armenia’ party and a former MP from the ‘Armenia’ parliamentary faction.

The “Pure Iron Factory” LLC has been operating since 1968, focusing primarily on the production of ferromolybdenum. Between 2014 and 2023, the company paid taxes amounting to 18 billion 197 million 265 thousand drams to the state budget.