Third Armenian President Serzh Sargsyan has been charged with organizing the embezzlement of large sums of public money by a group of officials.
Sargsyan served as the President of Armenia from April 9, 2008 to April 9, 2018. He was then elected as the country's Prime Minister but was forced to resign as a result of massive protests.
According to the Special Investigation Service, the government on January 24, 2013 approved a public assistance program to sell more than 17 million liters of diesel fuel to land users. A number of companies, including Maxhur and Flash, expressed readiness to supply fuel.
Flesh was ultimately selected as a supplier, though the company offered a higher price for diesel than Maxhur.
As a result, AMD 489 million (more than $1 million) was embezzled from the state budget.