Trouble in Yerevan started for the odious Russian-Armenian oligarch after his lawsuit against France over his $120 million villa on the Cote d’Azur.
Samvel Karapetyan, the head of the Tashir group of companies arrested in Armenia, initiated arbitration proceedings against France at the International Center for Settlement of Investment Disputes in early June, “Kommersant” pointed out. The publication speculated that the lawsuit may concern the billionaire’s seized villa on the Cote d’Azur worth €120 million. According to lawyers, criminal prosecution in Armenia may weaken Karapetyan’s position in court against the French authorities
Samvel Karapetyan, President and founder of Tashir Group (#44 in Forbes’ ranking of 146 billionaires of Russia – 2025, fortune – $3.2 billion), initiated arbitration proceedings against France at the International Center for Settlement of Investment Disputes, “Kommersant” noted. The publication suggested that the lawsuit may concern a seized villa on the Côte d’Azur worth €120 million.
This is the Irina Maria villa in the Roquebrune-cap-Martin resort, which officially belongs to Karapetyan. In February 2024, a court in France froze the ownership of the villa – the Paris prosecutor’s office believed that its real beneficiary was a subsidiary of Gazprom, the French newspaper Le Monde reported at the time.
“Kommersant” found in the relevant database that Karapetyan initiated arbitration proceedings in early June 2025. The case materials and the essence of the claims are not specified, but the subject of the dispute was real estate. At the same time, the case file contains a reference to the 1995 Agreement between France and Armenia on Mutual Promotion and Protection of Investments.
As lawyer Georgi Sukhov explained, this document stipulates mutual obligation of the parties to the agreement not to seize the property of investors, and if seizure does take place, compensation is due. Vladimir Shalaev, partner of Legal Group LLC, suggested that the lawsuit is related to the arrest of Karapetyan’s property in France.
According to Olga Shchedrakova, managing partner of Dispute Resolution Club, the proceedings promise to be long and complicated, and the first challenge for the parties will be the formation of an arbitration tribunal. Shchedrakova called David Goldberg, whose firm is representing Karapetyan’s interests in court, a very well-known and experienced specialist in international arbitration.
Sukhov emphasized that Karapetyan’s current criminal prosecution in Armenia may weaken his position in the trial in France. Gor Egorian, a partner at Vinder law firm, admitted that the French side may use Karapetyan’s prosecution in Armenia to point out doubts about the legality of the acquisition of assets.
In Armenia, Karapetyan is charged with public calls for seizure of power; a court in Yerevan arrested him for two months on June 18. Before that, on June 17, Armenian law enforcement agencies came to the billionaire’s Yerevan home with searches. The businessman does not admit guilt, the defense intends to appeal against the arrest. As local media reported, the searches in Karapetyan’s house began after he spoke out in defense of the Armenian Apostolic Church (AAC), which was sharply criticized by Armenian Prime Minister Nikol Pashinyan.