On May 5, 2025, the Prosecutor submitted to the court the criminal proceedings with the signed indictment against A.M., who committed money laundering in complicity with M.M. former Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the Holy See. 

Under the criminal proceeding investigated at the Investigative Committee and pending under the supervision of the Department for Combating Economic Crimes of the Prosecutor General’s Office it was substantiated that A.M. in complicity with M.M. former Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the Holy See and L.A. committed money laundering—obtained and used, actually possessed and managed property in particularly large amounts obtained through crime, by hiding and distorting the criminal origin, affiliation, true nature and source of origin of the mentioned property.

In particular, from 2010 until 2017, M.M. former Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia and his accomplices circulated their financial means through the organizations not engaged in the entrepreneurial activity and transferred those funds to M.M.’s personal bank account as well as to the account of an organization belonging to them and registered in a foreign country and other bank accounts opened under the name of their accomplice in one of the private banks of Swiss Confederation.

M.M. and his accomplices legalized EUR 24 million 798 thousand obtained through crime by obtaining shares, stocks and immovable property through an organization registered in the foreign country  and through different organizations registered under the name of L.A. and other persons.

They obtained 48% of shares of “Shant” LLC in the manner described above.

In particular L.A. reached an agreement with the founder and shareholder of “Shant” LLC on obtaining 48% of shares of “Shant”LLC worth USD 5 million through an organization registered in a foreign country. For that purpose, on December 19, 2011, formal loan agreements were concluded between the organizations belonging to M.M. and other accomplices, and one of the organizations undertook the provision of the loan in the amount of USD 5 million 10 thousand to another organizations. Two days after the conclusion of the contract, on December 21, 2011, USD 5 million 10 thousand was transferred from the bank account of one organization to the foreign account of another organization and on December 22, 2011, USD 5 million was transferred from that account to the account of the founder and shareholder of “Shant” LLC in the Republic of Armenia for 48% of shares of “Shant” LLC.

As a result on December 27, 2011 a sale and purchase agreement of the authorized shares of “Shant” LLC was concluded between the founder and shareholder of “Shant” LLC and an organization registered in a foreign country, pursuant whereof the abovementioned organization obtained 48% of shares of “Shant” LLC for AMD 97 million 594 thousand. 

After some time, L.A. and the former Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the Holy See M.M., having reached a preliminary agreement with M.M.'s classmate and close friend A.M., began to carry out actions aimed at concealing and disguising the true nature, origin, affiliation, and method of disposal of the 48% shares of "Shant" LLC, which had already been acquired through criminal means. As a result, when obtaining 48% shares of “Shant” LLC A.M. was already informed on the criminal origin of the purchase helped L.A. and M.M. and legalized AMD 97 million 594 thousand through formal sale and purchase agreement of 48% shares of “Shant” LLC.

On April 30, 2025 the Prosecutor’s Office initiated a public criminal prosecution against A.M. under point 1 of part 3 of article 190 (legalization of proceeds of crime (money laundering)) of the Criminal Code adopted on April 18, 2003 and on May 5, 2025, the criminal proceeding and the signed indictment were submitted to the First Instance Criminal Court of General jurisdiction of the City of Yerevan.

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.