Armenian law enforcement authorities have raided the Pharaon business complex owned by oligarch and Prosperous Armenia party leader Gagik Tsarukyan, as investigators widen a criminal probe into alleged tax evasion.
Armenia's State Revenue Committee said the complex—which includes a restaurant, hotel and entertainment centre—failed to pay taxes totalling around $224,000, Caliber.Az reports, citing Armenian media.
The committee alleges that the business concealed turnover of 300 million drams (approximately $819,000) during 2025–2026, resulting in unpaid tax liabilities of 82 million drams. A criminal case has been launched over the alleged offences.
The latest searches come after Tsarukyan was arrested on July 7 on charges of fraud and money laundering.
Authorities previously carried out searches at his residence and multiple business properties, some of which remain sealed as part of the ongoing investigation.
By Aghakazim Guliyev
