Armenian businessman and Tashir Group founder Samvel Karapetyan has been arrested, the country’s Investigative Committee said. Prosecutors opened a criminal case alleging particularly large-scale financial damage to Electric Networks of Armenia, with total claimed losses of more than AMD 64.585 billion. Investigators said the charges include embezzlement of entrusted property and money laundering. They also reported criminal proceedings against Karapetyan and 35 other people. During the case, law enforcement carried out simultaneous searches at 65 premises, including homes and company operating addresses. Karapetyan is under house arrest in connection with separate criminal proceedings. He has also been charged with making public calls to seize power and overthrow the constitutional order. He additionally faced a money-laundering charge in another case. The investigation is ongoing, with the arrested businessman held under house arrest in the proceedings described by investigators.