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Global Insight
November 25, 2011
Prosecutors Investigate Corruption Allegations Against Armenian Prime Minister
BY: Lilit Gevorgyan
The Inspectorate General of Criminal Investigations of the Armenian
police has launched a probe into corruption allegations against Prime
Minister Tigran Sargsyan. The allegations were made by pro-government
politician Harutyun Araqelyan, who sent an open letter to Avghan
Hovsepyan, Armenia's Prosecutor General on 21 November. In his letter
he claims that Sargsyan, together with dozens of other individuals,
siphoned off nearly USD31 million from the USD70-million loan received
by Armenia's largest chemical plant Nairit from a Moscow-based bank in
2006. At the time, Sargsyan held the post of the Chairman of the South
Caucasian republic's Central Bank, and his brother Ashot Sargsyan is
currently the deputy executive director of Nairit. The Prime Minister
has denied these accusations as blackmail, and his office revealed
that on 17 November prior to publicly launching the allegations,
Araqelyan sent a letter to Sargsyan as well as Justice Minister Hrayr
Tovmasyan threatening to go public with his accusation unless he was
reinstated as the chairman of the Liberal Democratic Party, a small
pro-government party.
Significance:It is highly unusual to see Armenian prosecutors
launching an investigation involving an incumbent prime minister. It
is unclear what the outcome of the probe will be, however media is
taking an increasingly active role, while the political scene is set
to become more vibrant ahead of May 2012's parliamentary election. Not
only the opposition but also the ruling coalition is showing signs of
weakness, with smaller pro-government parties searching to realign
themselves ahead of the important vote which is likely to be much more
transparent than the previous election.
November 25, 2011
Prosecutors Investigate Corruption Allegations Against Armenian Prime Minister
BY: Lilit Gevorgyan
The Inspectorate General of Criminal Investigations of the Armenian
police has launched a probe into corruption allegations against Prime
Minister Tigran Sargsyan. The allegations were made by pro-government
politician Harutyun Araqelyan, who sent an open letter to Avghan
Hovsepyan, Armenia's Prosecutor General on 21 November. In his letter
he claims that Sargsyan, together with dozens of other individuals,
siphoned off nearly USD31 million from the USD70-million loan received
by Armenia's largest chemical plant Nairit from a Moscow-based bank in
2006. At the time, Sargsyan held the post of the Chairman of the South
Caucasian republic's Central Bank, and his brother Ashot Sargsyan is
currently the deputy executive director of Nairit. The Prime Minister
has denied these accusations as blackmail, and his office revealed
that on 17 November prior to publicly launching the allegations,
Araqelyan sent a letter to Sargsyan as well as Justice Minister Hrayr
Tovmasyan threatening to go public with his accusation unless he was
reinstated as the chairman of the Liberal Democratic Party, a small
pro-government party.
Significance:It is highly unusual to see Armenian prosecutors
launching an investigation involving an incumbent prime minister. It
is unclear what the outcome of the probe will be, however media is
taking an increasingly active role, while the political scene is set
to become more vibrant ahead of May 2012's parliamentary election. Not
only the opposition but also the ruling coalition is showing signs of
weakness, with smaller pro-government parties searching to realign
themselves ahead of the important vote which is likely to be much more
transparent than the previous election.