The Anti-Corruption Court of Armenia on Friday upheld the bail of 30 million drams set for third President Serzh Sargsyan, but lifted the ban on his leaving the country.

Today’s court hearing was held behind closed doors at the request of the defense.

According to the indictment, between 2006 and 2015, Serzh Sargsyan participated in the management of several commercial companies, and granted privileges and advantages to those companies and sponsored their activities. This reportedly included involvement in large-scale economic projects with foreign investments, issuing loans totaling around $14 million under high-risk conditions, and participating in the acquisition of property by foreign companies, among other actions.

In addition, the indictment states that Sargsyan had demanded and received property of substantial value — a 22.5-percent share in a company — in exchange for taking actions within his official power in favor of the aforementioned commercial companies, and for using his official position to facilitate such actions. And on March 23, 2008, that property was sold to another company through a formality transaction for just 100,000 drams.