The request was presented during a court hearing on August 4. The court formally recognized Karapetyan and two other defendants as respondents in the civil asset claim.

According to prosecutors, the amount sought represents the alleged financial damage caused to the state through several schemes, including tax evasion, transactions involving turbo-generator units, and alleged value-added tax (VAT) violations.

Armenia's Investigative Committee has previously alleged that Karapetyan and two co-defendants organized a tax evasion scheme involving approximately 1.8 billion drams. Investigators also accuse them of embezzling assets worth about 4.9 billion drams and subsequently laundering those funds. A separate count alleges the laundering of another 1.5 billion drams through two Armenia-registered companies.

Karapetyan's legal team rejected the prosecution's claims. Defense lawyer Armen Feroyan argued that the lawsuit lacks a detailed factual and legal basis, saying its reasoning consists of only a few lines. He added that documents issued by Armenia's tax authorities confirm that the businessman has no outstanding tax liabilities.

The defense also said the prosecution's evidence concerning the turbo-generator units has no connection to Karapetyan.

During the same hearing, Judge Vahagn Dolmazyan announced that two of Karapetyan's lawyers, Aram Vardevanyan and Liana Gasparyan, had ceased to represent him after being elected to Armenia's newly formed parliament as members of the Strong Armenia party. Armenian law prohibits members of parliament from simultaneously practicing as lawyers, meaning they may now attend the proceedings only as private citizens.

Criminal proceedings against Karapetyan were launched in the summer of 2025. His associates have argued that the case was initiated after the businessman publicly defended the Armenian Apostolic Church during its conflict with Prime Minister Nikol Pashinyan's government. At the time, investigators interpreted Karapetyan's remarks that supporters of the Church would intervene "in their own way" if necessary as a public call to seize power.

Karapetyan was detained on June 18, 2025. The investigation later expanded to include charges of publicly calling for the seizure of power and the violent overthrow of the constitutional order, as well as large-scale money laundering. In March 2026, the Investigative Committee announced that it had completed the preliminary investigation into the economic charges. Karapetyan and his lawyers deny all allegations, describing the prosecution as politically motivated.

In late December 2025, a court replaced Karapetyan's pretrial detention with house arrest. On July 9 this year, the Anti-Corruption Court extended that measure for another two months.

During the investigation, Karapetyan entered Armenian politics and became the leader of the Strong Armenia party. The party won seats in the 2026 parliamentary elections and entered the newly elected National Assembly.

Separate from the criminal proceedings, the Armenian authorities have launched the nationalization of Electric Networks of Armenia, the country's main electricity distribution company owned by the Tashir Group. Prime Minister Nikol Pashinyan has also publicly accused Karapetyan of abusing his position while managing the utility. Karapetyan and his supporters reject the allegations and maintain that both the criminal case and the government's actions are politically motivated.