Aram Mnatsakanyan

Biographical data about Aram Mnatskanyan is almost entirely absent. However, through the State Register of Legal Entities of Armenia and State Revenue Committee websites, his involvement in various companies becomes clear. Mnatskanyan is the 100% owner of "Merian Group" LLC, which engages in wholesale pharmaceutical trade. He also holds ownership stakes in two companies specialized in construction preparatory work: 50% of "Rubinyants 5" LLC and 100% of "Merarminvest" LLC.

Mnatskanyan also owns a 48% share of "Shant" LLC, though his assets have been subject to a restraining order since June 2020 as part of the money laundering investigation, preventing any transactions involving these shares.  On April 30, 2025, he was charged with money laundering in preliminary agreement with his classmate Mikayel Minasyan—former Armenian Ambassador to the Vatican and son-in-law of Armenia's third president Serzh Sargsyan—and Minasyan's close associate Leonid Arevshatyan.

According to the prosecution's charges, Leonid Arevshatyan acquired the 48% share in "Shant" LLC for $5 million through a foreign organization. In 2011, a formal loan agreement was signed between organizations belonging to Minasyan and other accomplices, through which the money was transferred to Shant's founder. The prosecution alleges that Leonid Arevshatyan, Mikayel Minasyan, and Aram Mnatskanyan subsequently undertook to conceal the criminal origin of the shares. In 2015, Mnatskanyan acquired these shares for 97.6 million AMD through a formal transaction, giving a legal appearance to their actions.