YEREVAN. – The nephew of the third Armenian President Serzh Sargsyan, Narek Sargsyan, has not yet been found, Armenian Police Chief Valery Osipyan told reporters on Thursday.

Asked whether Narek Sargsyan was in the sight of law enforcement officers, Osipyan said that the process requires time, and they will provide information if the concrete results are achieved in this regard.

As reported earlier, the National Security Service (NSS) of Armenia had received information that a large number of drugs and weapons were hidden at an apartment belonged to Narek Sargsyan, 31—the nephew of third President Serzh Sargsyan. In addition, the NSS received a report that, back in 2013, Narek Sargsyan, abusing the trust of an heir of renowned Armenian painter Martiros Saryan, had taken fourteen drawings of Saryan from this heir, promising to pay $28,000 for them, and to jointly establish a casino with the rest of the money, and to sponsor its activities. After getting these paintings, however, Sargsyan did not fulfill his promise, and he refused to return these drawings.

Within the framework of the respective criminal case, a search was conducted Wednesday at the place where Narek Sargsyan is registered, in capital city Yerevan. The abovementioned paintings, as well as $115,000, €27,000, expensive watches, numerous gold coins, and jewelry were discovered at this place.

A search was conducted also at the places belonging to Narek Sargsyan and in his expensive cars. A container filled with a drug-like substance was found at one of these places.

Narek Sargsyan and his bodyguard, Artem Petrosyan, have been included in the ongoing criminal investigation as defendants, a search has been declared for them, and arrest has been selected as preventive measure against them.