Jailed Russian-Armenian tycoon’s family files $500mn lawsuit against Yerevan

Samvel Karapetyan’s relatives are demanding that the government provide compensation for losses linked to his company’s nationalization

The family of jailed billionaire Samvel Karapetyan is reportedly suing the government of Armenian Prime Minister Nikol Pashinyan for $500 million due to the nationalization of his company.

Samvel Karapetyan was arrested in June for calling for the seizure of power after publicly supporting the Armenian Apostolic Church in its confrontation with Pashinyan. Following his arrest, the prime minister stated that “it is time to nationalize” Karapetyan's company Electric Grids of Armenia and called for swift action.