Armenia’s Investigative Committee has initiated public criminal prosecution against 36 individuals in a case involving abuse of official authority, large-scale embezzlement and money laundering at Electric Networks of Armenia (ENA). Businessman Samvel Karapetyan is among those targeted in the criminal proceedings and has been detained. According to the Investigative Committee, the alleged criminal activity took place between 2016 and 2024 under the organization and direction of Samvel Karapetyan. Investigators have obtained evidence indicating that several individuals committed four episodes of abuse of official authority in the private sector, large-scale embezzlement of entrusted property and money laundering. The group included certain members of ENA’s Board of Directors, the company’s CEO and deputy CEO, as well as other responsible officials. Investigators allege that, with the intention of embezzling the company’s assets, the group abused its authority by raising loans in amounts exceeding the company’s actual operational needs and subsequently transferring funds to shareholders as dividends, as well as providing unjustified loans and advance payments to affiliated and other companies. As a result, a total of 23.158 billion drams was withdrawn from ENA in 2024–2025, including through dividend payments to shareholders Liormand Holdings Limited and Tashir Capital CJSC. The actions caused the company total damages of 64.586 billion drams, comprising 36.982 billion drams, 23.158 billion drams and 4.446 billion drams. The investigation further alleges that executives of more than a dozen affiliated companies laundered the funds by circulating them through civil-law and corporate transactions, concealing their criminal origins, mixing them with other income and giving them the appearance of legitimacy. Based on a motion submitted by investigators, the supervising prosecutor decided to initiate public criminal prosecution against 36 individuals under the Criminal Code provisions concerning the organization of abuse of official authority in the private sector, large-scale embezzlement of entrusted property and large-scale money laundering. The charges include four episodes of organizing abuse of official authority, two episodes of organizing large-scale embezzlement and large-scale money laundering. The Investigative Committee also said that decisions had been made to detain the individuals, with enforcement assigned to the investigative authorities. Simultaneous searches are being conducted at 65 residential properties and company premises with the participation of investigators and officers of the National Security Service, Interior Ministry and State Revenue Committee. The preliminary investigation is ongoing. All individuals accused of crimes are presumed innocent until their guilt is established by a final court judgment in accordance with the procedure prescribed by law.