Today charges were brought against Saribek Sukiasyan, Chairman of Arm Armeconombank Board, under Article 133 of the RA Criminal Code (involvement in a group conspiracy to take the life of another from mercenary motives) which envisages prison sentence up to 3-5 years.

"I refused to sign any document as they are groundless. This is a trumped-up case," Saribek Sukiasyan announced today.

"They simply want to snatch our business (Byuregh Ltd) from our hands and smear our good name. The political motives are evident. I want to inform everyone that they cannot break our will by chasing the Sukiasians family and filing unfounded charges against us. I hope it doesn't reach the point when we are forced to disclose the names of all those in the group of bandits. We only follow a business perspective in all we do," said Mr. Sukiasyan.

Saribek Sukiasyan, the younger brother of pro-opposition businessman and former MP Khachatur Sukiasyan, was detained for 72 hours last Friday on suspicion of illegally possessing a gun and threatening to kill Audit Ltd. Director Gor Davtyan.