YEREVAN. – Sedrak Arustamyan, director of Armenia’s Multi Group Company and owner of Stones LLC, will remain in freedom.

Speaking to reporters, Arustamyan said that the Criminal Court of Appeal had made a fair decision.

The Armenian News-NEWS.am correspondent reported that Arustamyan appeared in court with a cane.

Arustamyan does not accept the charges against him.

A month ago, Sedrak Arustamyan was granted bail as an alternative restraint and was released on an AMD 20mn bail.

Sedrak Arustamyan, Gurgen Sargsyan, and Suren Avagyan are accused under the Criminal Code articles on money laundering, tax evasion and fraudulent business, or the organization of these criminal acts—and in connection with the North-South Road Corridor project.