Nephew of the Armenian former chair of State Revenue Committee and ex-finance minister Gagik Khachatryan, Karen Khachatryan, is at the penitentiary institution, Armenian National Security Service reported.

The ruling of the court on his release on bail was deemed inadmissible. Karen Khachatryan was charged for misappropriation or embezzlement of funds on an especially large scale.

The investigation is ongoing.