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 Monday, August 10 2026 13:54
Alexandr Avanesov

Arrested Armenian oligarch on economy and new jobs 

Arrested Armenian oligarch on economy and new jobs 

ArmInfo.  A country cannot be saved by charity alone; a sound economic policy, the creation of new jobs, the emergence of new economic forces, a healthy economic  environment, and an effective system of governance are necessary for  the development of a state. This is what businessman Gagik Tsarukyan,  leader of the Prosperous Armenia Party and currently under arrest,  writes.

According to him, through charity, thousands of people can be helped,  and the development of culture, science, education, sports, and other  spheres can be promoted. Lives can be saved, churches can be built,  books can be printed, films can be made, educational opportunities  can be created, plays can be staged, and other important things can  be accomplished. This is happening all over the world. And the  problem isn't the amount of money.

"I know hundreds of Armenian young men who were just beginning to  develop, striving to do something good for their city or village.  Glory and honor to them. Along with them, we know the name of  Mantashov, thanks to whom many Armenian talents received an education  all over the world, and the name of the Armenian people remained  high. We know the name of Kirk Kerkorian, who donated huge sums of  money to his historical homeland. We know the name of Samvel  Karapetyan, who, in accordance with his character, without raising  his voice, did an unimaginable amount of charity in Armenia and  Artsakh. I will not talk about my deeds. History will appreciate what  I did in Armenia. Everything happened in front of everyone. But I  must touch on one topic. For many years, I was tormented by one  thought: why should only the diaspora always help Armenia? We have  the Armenian world, and if Armenians in different parts of the world  need help from time to time, why doesn't someone from Armenia lend a  helping hand? If in the first days of independence there was an  explanation for this, then later it was a mistake of inertia.  Moreover, A grave mistake. At some point, I decided to change this  tradition and become a benefactor from Armenia who helps our  compatriots in trouble in different parts of the world. Thus, I,  Gagik Tsarukyan, born and raised in Armenia, helped our compatriots  in Syria engulfed in war, our compatriots in Lebanon, the Armenian  community in Iran, Armenian communities in different countries of the  Middle East, Armenian colleges and schools experiencing financial  difficulties in different countries, our churches and Armenian  communities in different countries of the world. The unity of the  Armenian world is also created and strengthened by such steps, when  an Armenian facing difficulties in any part of the world receives the  support of an Armenian in his homeland. I repeat once again: charity  has nothing to do with the amount of money. Charity helps to form a  better society, a society that respects each other, offers a helping  hand to each other. I have repeatedly said that there is no happiness  in solitude. You can't just live like "I'm a pig, thinking only of my  own interests and being indifferent to the concerns of my country and  my people. I grew up in a difficult, modest family, but I saw my  mother always put aside a piece of bread for those less fortunate.  What I've done for my country was little, but God willing, I will do  more. My sons will certainly do the same. Charity literally means a  good deed. A good deed is, first and foremost, a good intention for  the sake of the country, for the sake of the people's future. It is a  heartfelt aspiration that everyone brings to life to the best of  their ability. Encouraging good intentions is important for changing  the atmosphere in the country, and the desire to help each other is  essential for building a strong country and a strong society. The  opposite of this is division and hostility, which are destructive for  Armenia," noted the leader of the Prosperous Armenia Party.

As a reminder, on July 6, the Investigative Committee of Armenia  conducted large-scale searches of Gagik Tsarukyan's home and related  properties at more than 70 addresses. Following the completion of the  investigation, the properties were sealed, and the businessman was  arrested for two months. Tsarukyan has been charged with a number of  offenses, including organizing fraud and money laundering on an  especially large scale. He is also accused of fraud and embezzlement  of $934,000, illegal hunting, and causing damage to the state in  excess of $81,000. The charges were later expanded to include  extortion and money laundering. Furthermore, as part of the  investigation, the Yerevan Ararat Brandy-Wine-Vodka Factory, the  Ararat Cement plant, and the Multi Wellness sports complex were  seized from Tsarukyan. The Prosecutor's Office is also demanding the  confiscation of 75 properties from Tsarukyan and individuals  associated with him, including 52 apartments in Yerevan's Nor Nork  district, five apartments on Abovyan Street in central Yerevan, and  11 apartments in the Kotayk region. Additionally, the market value of  10 additional properties, 42 vehicles, and shares in 38 companies are  at issue.  

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