Armenia has issued an international arrest warrant for Davit Papazian, the former director of the Armenian National Interests Fund (ANIF), deepening a scandal that spans both domestic corruption and international human rights concerns.
On August 15, the Prosecutor General’s Office (PGO) launched criminal proceedings against Papazian and two associates for money laundering and abuse of power. Papazian led ANIF from its founding in 2019 until his dismissal in January 2024. The state-run investment fund, tasked with attracting foreign capital and supporting local business, was dissolved later that year amid mounting allegations of financial mismanagement.
In March 2025, investigative outlet Hetq revealed that on May 4, 2023, an ANIF subsidiary invested AMD 1.5 billion (about $3.8 million) in CFW CJSC, a company that had been established just eight days earlier. The investment was intended to train cybersecurity specialists but the firm collapsed within a year. The deal has now become a central element in the corruption probe.
Papazian is charged alongside Bella Manukyan, former head of the ANIF subsidiary that oversaw the CFW investment, and Karineh Andreasyan, the company’s CEO. Hetq further reported that CFW was owned by offshore entities in Delaware, raising suspicions of conflicts of interest.
Additional irregularities have surfaced regarding ANIF’s Moscow branch, which received 2.7 billion drams ($6.9 million) from the central fund between 2020 and 2024. According to ANIF’s current management, there are no records of how the branch used the money. A broader parliamentary investigation estimated that ANIF’s failed projects drained at least 10.7 billion drams ($27.3 million) in state resources.
Yerevan Mayor Tigran Avinyan, who chaired ANIF’s board when the CFW investment was approved, has long faced opposition accusations of corruption. Investigators have not confirmed whether he has been questioned in connection with the case.
Papazian’s legal troubles extend beyond Armenia. Earlier this year, he was appointed chair of the Gaza Humanitarian Foundation (GHF), a U.S.- and Israeli-backed nonprofit overseeing aid distribution in Gaza. The foundation has been sharply criticized by international charities, including Doctors Without Borders (MSF), for militarizing food distribution and “institutionalizing starvation and dehumanization.”
The Arab Organization for Human Rights (AOHR) in the UK filed a complaint with Armenia’s Prosecutor General, alleging that Papazian played a central role in designing and overseeing GHF’s aid system, despite being aware of UN reports documenting civilian harm. AOHR said there is “credible evidence and documentation” suggesting his involvement in actions that may amount to war crimes and crimes against humanity.
According to Palestinian health sources, at least 1,800 people have been killed and over 13,500 injured while queuing for or attempting to access food at GHF distribution sites. GHF has denied the accusations, maintaining that its work is purely humanitarian.
Papazian and Andreasian are reportedly outside Armenia, and authorities have not confirmed their whereabouts. Both the corruption case linked to ANIF and the international complaint regarding Gaza remain under investigation.
