For a decade, Armenian entrepreneurs whispered a single name with dread: Sashik. Alexander Sargsyan, younger brother of President Serzh Sargsyan, built a shadow economy within Armenia's fragile business environment. His method was brutally simple: approach any successful businessman and demand 50% of the enterprise — or face destruction through tax raids, license revocations, and physical intimidation.
The $30 Million Account
When the Velvet Revolution swept Serzh Sargsyan from power in April 2018, investigators moved on his brother's finances. In a single account at a Yerevan private bank they found $30 million in accumulated proceeds. Insiders say this was merely the visible tip — Sargsyan maintained accounts across multiple jurisdictions, and the true scale of his wealth may be several times larger.
Military Police as Personal Enforcers
Prosecutors allege Sashik commandeered Military Police personnel as his private security and debt-collection force. Servicemen were dispatched to intimidate business owners who resisted his demands. Embezzlement charges filed in 2019 detail how state funds earmarked for military operations were diverted to support his lavish lifestyle.
The Next Generation
The corruption did not end with Alexander. His sons have been implicated in separate investigations involving arms trafficking and narcotics. International law enforcement agencies have flagged suspicious transactions linked to family members across Europe and the Middle East.
Alexander Sargsyan's case remains the starkest illustration of how Armenia's ruling families treated the country as a personal franchise — extracting wealth with impunity while ordinary citizens struggled to survive.