Samvel Karapetyan, owner of the Tashir Group and leader of the opposition party "Strong Armenia," has been detained in Armenia. He is suspected of orchestrating an abuse of authority while managing the company "Electric Networks of Armenia" (ENA), as well as the large-scale misappropriation of entrusted assets and money laundering. Criminal proceedings have been initiated against 36 individuals; investigators estimate the damage caused to the company at 64.6 billion drams (approximately $180 million).

The Investigative Committee of Armenia announced Karapetyan’s detention on November 4. The businessman was brought to the agency following searches conducted early that morning at his home, the residence of his nephew Narek Karapetyan, and several other locations. In total, investigative actions were carried out across 65 apartments and corporate premises. The operation involved personnel from the Investigative Committee, the National Security Service, the Ministry of Internal Affairs, and the State Revenue Committee.

A statement from the Investigative Committee notes that "members of a criminal group operating under the leadership and organization of S. K.—including certain members of the Board of Directors of 'Electric Networks of Armenia' CJSC, the company’s CEO and his deputy, and other officials—abused the authority granted to them by the company’s charter to oversee its day-to-day operations."

According to investigators, between 2016 and 2024, the management of ENA secured loans far exceeding the company’s actual operational needs, subsequently directing these funds toward shareholder dividends, loans, and advance payments to entities linked to the management. According to the Investigative Committee, 23.15 billion drams were siphoned out of the company between 2024 and 2025 under the guise of dividend payments to two shareholders: Liormand Holdings Limited and Tashir Capital CJSC.

Another aspect of the investigation concerns alleged money laundering involving more than ten interconnected entities. Investigators believe the heads of these organizations created the appearance of legitimate financial transactions within the framework of civil and corporate dealings, thereby obscuring the origin of the funds by commingling them with other income.

The relevant investigative authorities have been tasked with detaining all individuals implicated in the case. The preliminary investigation is ongoing.

The searches also extended to the family of an opposition leader. Narek Karapetyan, head of the "Strong Armenia" parliamentary faction, reported that investigators arrived at his home while his relatives and children were present. He noted that this was the fourth time his residence had been searched within the past year. He linked these events to Prime Minister Nikol Pashinyan’s efforts to secure opposition support for a constitutional referendum.

"No matter what plans Nikol Pashinyan devises, nothing has worked for him, and nothing will," Narek Karapetyan told reporters. He also addressed the Prime Minister directly, stating: "Our enemy keeps you in a state of fear, which is why you do everything they tell you to do."

Aram Vardevanyan, Deputy Speaker of the Parliament and a member of "Strong Armenia," characterized the searches as a politically motivated order. He also connected these investigative actions to the ongoing standoff over constitutional amendments and discussions regarding a peace agreement with Azerbaijan. Vardevanyan asserted that these events have nothing to do with standard legal procedures. Armenia’s Minister of Internal Affairs, Arpine Sargsyan, commented on the searches by rejecting such an interpretation and describing the actions of law enforcement as a standard procedure.

"In any situation—regardless of the individual's name—if there are grounds for conducting a search, it must be carried out," she emphasized.

Karapetyan was already under house arrest in connection with a separate criminal case. He was detained in June 2025 following public statements in support of the Armenian Apostolic Church and criticism of the authorities. The entrepreneur faced several charges, including making public calls for the seizure of power. He denied any wrongdoing. In January 2026, his pre-trial restriction was changed to house arrest.