MOSCOW—A Moscow court has refused to change the terms of Levon Hayrapetian’s detention, as his lawyers had requested, citing concern for Hayrapetian’s detiorating health, RIA Novosti reports. The Armenian businessman and philanthropist’s lawyers had requested a change to house arrest.
Hayrapetian’s lawyer Henry Reznik said that his client’s heart condition could lead to a heart attack in case of heightened emotional stress. Hayrapetian had fallen ill in court earlier this week during a hearing.
The court has, however, provided for Hayrapetian to attend his court hearings via video-conferencing.
Hayrapetian, 65, was arrested by Russian Federal Security Service officials on July 15. A Moscow court allowed the businessman’s two-month imprisonment while investigators conduct a probe into his alleged criminal connections and involvement in some illegal financial dealings. He was officially charged on July 24 with money laundering and embezzlement and his shares in the Russian oil company Bashneft, said to be worth $8.5 million were frozen.
Hayrapetian is considered to be one of the wealthiest Armenians in the world. He is known to have invested millions of dollars into developing Nagorno-Karabakh’s infrastructure and renovating the area’s historical-cultural monuments. His charity included a mass wedding for hundreds of Karabakh couples in 2008 and sponsorship of the construction of a military college in Martakert.