Former ANIF subsidiary chief faces trial

PanARMENIAN.Net - On August 15, 2025, prosecutors initiated public criminal prosecution against former Armenia National Interests Fund (ANIF) CEO Davit Papazyan, former Entrepreneur+State Anti-Crisis Investment Fund CJSC director Bella Manukyan, and CFW CJSC director Karine Andreasyan.

The criminal case concerns CFW CJSC, which received a 1.5 billion dram investment from Entrepreneur+State Anti-Crisis Investment Manager CJSC. Hetq reported that the company's director, Karine Andreasyan, is a friend of Yerevan Mayor Tigran Avinyan’s wife, while 51% of the company's shares are owned by two companies registered in Delaware, an offshore jurisdiction.

CFW CJSC was expected to train cybersecurity specialists for public and private sector organizations. However, the project ultimately failed.

Davit Papazyan, Bella Manukyan, and Karine Andreasyan have been charged with money laundering on an especially large scale, document forgery, and abuse of official authority or influence arising from such authority in the private sector. An international wanted notice has been issued for Davit Papazyan since September 2025.

The Prosecutor General's Office also said the pre-trial investigation into the main proceedings is still ongoing and that no additional suspects have been identified. However, the separated proceedings against Bella Manukyan have been completed and referred to court with an indictment.

According to the Datalex judicial information system, the Anti-Corruption Criminal Court received the case on July 10, 2026. On the same day, it was assigned to Judge Sargis Petrosyan.