Armenian prosecutors have refused to unfreeze assets of former President Serzh Sarkisian who is facing corruption charges strongly denied by him.

The Special Investigative Service (SIS) froze Sarkisian’s bank accounts and properties and banned him from leaving the country after indicting him last month. It said that he “organized the embezzlement by a group of officials” of 489 million drams (just over $1 million) in government funds allocated in 2013 for the provision of subsidized diesel fuel to farmers.

The SIS claimed that Sarkisian interfered in a government tender for the fuel supplier to ensure that it is won by a company belonging to his longtime friend Barsegh Beglarian, rather than another fuel importer that offered a lower price. The ex-president rejected the accusation as politically motivated.

A spokeswoman for the Office of the Prosecutor-General told RFE/RL’s Armenian service on Wednesday that it has dismissed a Sarkisian lawyer’s demands to unfreeze the assets. The lawyer, Amram Makinian, condemned the decision.

“I am firmly convinced that both the investigator’s decision to place the president’s assets under arrest and prosecutors’ rejection of our appeal against it are not lawful, said Makinian.

The SIS has brought embezzlement charges against Beglarian as well. The wealthy businessman also denies them.

The law-enforcement agency announced last week that it has completed the probe of the alleged embezzlement and sent its findings to the prosecutors for approval. Such an endorsement would pave the way for Sarkisian’s trial.

The accusations carrying between five and eight years in prison are reportedly based on incriminating testimony against the ex-president given by former Agriculture Minister Sergo Karapetian. Makinian said last week that the “false” testimony has not been backed up by any evidence.

Echoing statements by the former ruling Republican Party of Armenia (HHK) still headed by Sarkisian, the lawyer also claimed that his client is prosecuted in retaliation for his public criticism of Prime Minister Nikol Pashinian. The investigators and Pashinian’s political allies deny that.

Sarkisian, who ruled Armenia from 2008-2018, accused Pashinian’s government of jeopardizing democracy and stifling dissent in a November 20 speech at a congress of the European People’s Party held in Croatia. He had kept a low profile since resigning in April 2018 amid mass protests against his continued rule led by Pashinian.

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