Armenian billionaire opposition leader Samvel Karapetian rejected fresh criminal charges as “judicial disgrace” after being arrested again. Two days after his latest arrest, Karapetian spoke briefly to reporters while standing trial on separate coup charges brought immediately after his first arrest in June 2025. On Friday, he denied the new accusations while the case proceeded in parallel. Karapetian, along with 35 other people, was charged on Wednesday with fraud, embezzlement and money laundering. Armenia’s Investigative Committee alleges Karapetian led a “criminal group” that misappropriated more than 23 billion drams, mainly through dividend payments, from Armenia’s national electricity utility, owned by his Tashir Kapital firm. Prosecutors say the Electric Networks of Armenia (ENA) operator suffered losses of 64 billion drams. Karapetian’s aides and political allies dismissed the allegations, saying he could not have stolen from himself. Tashir says it invested at least $700 million in ENA after buying the utility from Russia’s RAO UES energy giant in 2015, and claims it sharply cut losses while keeping electricity prices largely unchanged. Karapetian was taken into custody one day before he was due to chair a meeting with leaders of other opposition groups. His Strong Armenia alliance said the arrest was aimed at preventing talks about how to thwart Prime Minister Nikol Pashinian’s plans for a new Armenian constitution demanded by Azerbaijan. Pashinian denied any political motives. Karapetian remains in court and is charged in the new case alongside 35 others, while he continues to face separate coup charges from his first arrest in June 2025.