A Yerevan court has extended the pretrial detention of opposition “Prosperous Armenia” party leader and businessman Gagik Tsarukyan by another three months, keeping him in custody as criminal proceedings against him continue.
The decision follows a November 4 hearing at the Avan and Nor Nork Court of General Jurisdiction, where prosecutor Liana Markosyan requested a three-month extension.
Markosyan argued that the grounds for Tsarukyan’s continued detention remained in place, claiming that his release could allow him to obstruct the proceedings or interfere with the collection of evidence.
Tsarukyan’s defense rejected those arguments and requested his release or the application of a less restrictive preventive measure.
Defense lawyer Yerem Sargsyan challenged the prosecution’s reasoning, arguing that its justification relied on generalized assertions rather than concrete evidence.
Tsarukyan has been in custody since July 2026, when investigators conducted extensive searches at his residence and more than 70 locations linked to his business interests.
The Investigative Committee accuses him of involvement in large-scale fraud, money laundering and other financial offenses allegedly committed between 2022 and 2024.
The investigation centers partly on business arrangements involving Iranian investors and companies connected to Tsarukyan’s “Multi Group” conglomerate.
Investigators allege that the arrangements resulted in the misappropriation of substantial assets. Tsarukyan denies the accusations and maintains that he personally invested money in the projects rather than misappropriating funds.
His defense and political allies have repeatedly described the criminal proceedings as politically motivated.
Tsarukyan was initially remanded in custody for two months on July 7. His detention was extended by another two months on September 4.
The latest three-month extension would keep the opposition leader in pretrial detention after approximately four months already spent in custody, despite continued objections from his legal team.
