M.M. holding the position of First Deputy Head of Staff of the RA President from 2008 to 2012, and being Ambassador Extraordinary and Plenipotentiary in Holy See from 2013 to 2018, contrary to the legal prohibition to carry out business activities, participated in the management of an organization carrying out business activities both personally and through his close associates A.P. and L.A. until 2016, legalizing the property in particularly large amount procured through crime as a result of the aforementioned illegal activities.

By the decision of the Supervising Prosecutor, dated August 24, 2023, public criminal prosecution was initiated against M.M. under Article 190, Part 3, Point 1 (Legitimizing (legalizing) illegally obtained income in particularly large amount/money lundering) of the RA Criminal Code adopted on 18.04.2003.

In the criminal proceedings, it was found that by the decision of the Government No 435, dated May 21, 2001, “Dzorahek” CJSC was established with the investment of the state-owned property, separated from the assets of “Hayenergonorogum” CJSC of the Ministry of Energy. The authority to manage the company's shares has been assigned to the Ministry of Defense.

On December 16, 2010, the Ministry of Defense drafted a confidential Government decision approving the signing of a large-scaled contract for the sale of the above-mentioned property. The draft decision proposed to allow the Ministry of Defense to approve signing of a large-scaled contract, namely, to expropriate the property for 3 billion 600 million AMD to the “Dzoraget Hydro” CJSC, which was actually managed by M.M. “Dzoraget Hydro” CJSC was founded by M.M.’s affiliates A.P. and L.A., through trading company “MGDC Inc” registered in the British Virgin Islands and “Vod Group” CJSC on October 27, 2010.

According to the sale contract of the property signed on December 20, 2010, the property of “Dzorahek” CJSC with a market value of 4 billion 646 million 400 thousand AMD was sold to “Dzoraget Hydro” CJSC managed by M.M. for 3 billion 600 million AMD.

Afterwards, in order to set privileges for “Dzoraget Hydro” CJSC, by the relevant decision of 2011, the Government defined the maximum capacity set for small hydroelectric power station up to 30 mW instead of 10 mW. As a result, the only large hydropower station with capacity of 26.4 mW — “Dzoraget Hydro” CJSC was included in the list of small hydropower stations. Based on the Government's decision, the Public Services Regulatory Commission changed the methodology for calculating electricity sales tariffs and set double tariffs for the sale of electricity produced and delivered from “Dzoraget Hydro” CJSC hydroelectric power station during 2012-2016. As a result, “Dzoraget Hydro” CJSC received 3 billion 750 million 837 thousand 591 AMD from individuals and legal entities consuming electricity in the Republic of Armenia.

M.M. concealed the fact that he was the real beneficiary of 30 percent of the company's shares, as a result of which he received 1 billion 113 million 698 thousand 628 AMD benifit during 2011-2016.

In the aforementioned period, Mikayel Minasyan combined the above-mentioned amounts with his other incomes in order to distort the criminal origin of particularly large amounts (especially  333 million 861 thousand 167 AMD), actually received as a result of illegal participation in business activities.

Notice:  A person charged with any crime shall be presumed innocent until proved guilty in the manner prescribed by the RA Criminal Procedure Code—by the judgment came into legal force.