Defense says Iranian businessmen owe Tsarukyan $14.5 million

Attorneys for Armenian businessman and Prosperous Armenia Party leader Gagik Tsarukyan said on Tuesday that Iranian businessmen involved in a disputed investment project owe him $14.5 million and have misrepresented the nature of the deal, rejecting claims that the venture was unsuccessful.

Speaking to reporters, Tsarukyan's attorney, Emin Khachatryan, said the project was a significant initiative aimed at strengthening Armenian-Iranian economic ties and that Tsarukyan had financed all of the investments associated with it.

"It was not a failed business deal," Khachatryan said. "It was an important step toward developing Armenian-Iranian relations, and every investment connected with the project was made by Mr. Tsarukyan."

Khachatryan said the defense disputes the characterization of the individuals involved as legitimate businessmen, arguing that evidence gathered during the investigation presents a different picture.

"These individuals currently owe Mr. Tsarukyan $14.5 million, yet they are portraying the situation as something entirely different," he said. "The documents we have submitted must be fully examined during the investigation."

According to Khachatryan, the defense has submitted documents showing that the Iranian nationals signed a debt acknowledgment confirming they owed Tsarukyan $14.5 million and agreed to repay the amount within two years.

Khachatryan said that repayment deadline has now expired and alleged that the criminal proceedings are intended to help the debtors avoid meeting their financial obligations.

The allegations stem from a transaction that has become the basis of a criminal case against Tsarukyan.