YEREVAN. – Prime Minister Karen Karapetyan of Armenia on Thursday announced that the Investors’ Club, which Russian Armenian tycoon Samvel Karapetyan has formed, will publicize a $1-billion investment program in the coming days, according to Zhamanak (Times) newspaper.

“[But] Zhamanak has learned that Samvel Karapetyan, the main investor and participant in the Investors’ Club, has ‘bought’ the debt of many club members, for the establishment of the club. Moreover, several club members agreed to be part of the club, after Samvel Karapetyan’s ‘threats’ to no longer assist them in Russia.

“According to our information, some members of that club have up to tens of millions of dollars in debts to [Prosperous Armenia Party Chairman, National Assembly “Tsarukyan” Faction head, MP, and businessman] Gagik Tsarukyan.

“In this sense, the statement about one-billion [dollar] of investments rather has a symbolic meaning and significance for the head of the executive [branch of power in Armenia], and Samvel Karapetyan,” wrote Zhamanak.