The list had some glaring omissions, including several of Armenia’s most lucrative firms. Gagik Tsarukian, arguably the wealthiest man in the country, owns more than 40 medium and large companies. Only a handful of them were on the list and only one of them, a Yerevan-based winery, posted any earnings. Its first-quarter profit tax of nearly $20,000 is less than the price tag of any of the dozen cars that normally make up Tsarukian’s motorcade.

Tsarukian’s business empire has seen an incredible expansion in recent years. The former arm-wrestler started out as a minority shareholder in one of Armenia’s two largest breweries in the late 1990s. The brewery has claimed to be loss-making since then, and it is not clear how exactly the unusually beefy tycoon, who is very close to the ruling regime, has earned his millions. Some local observers suspect that more powerful individuals are behind Tsarukian’s businesses.

As for the rule of law, take a look at some of Mr Tsarukian’s business associates. Might also be worth looking at what Armenia Now’s Vahan Ishkanyan recently wrote about the man himself.

One of the most powerful, most infamous and famous “akhperutyuns” of Yerevan is Gagik “Dodi Gago” Tsarukyan, who is a close associate of the President’s family, and a Member of Parliament since 2003.

Members of Dodi Gago’s akhperutyun clashed with another akhperutyun in the spring of last year at “Tetsi Krug” for control over a minibus route. A mob estimated at about 200 fought in a planned rumble that left one man dead and at least two injured.

Charges were filed, but not upheld against the main men of the “razborka” (rumble). The same “main men” Hrair “Artashatsi Hro” Harutyunyan and Ashot “Bangladeshtsi Hamo” Avetisyan led their “akhperutyun” in attacking photo journalists, and beating participants in a rally on April 5, 2004, during a demonstration organized by oppositional politician Artashes Geghamyan.

Gagik Tsarukyan’s power extends to Yerevan’s satellite town of Abovyan and the village of Arinj. He also has territories in Yerevan. Two years ago he became the President of the National Olympic Committee of Armenia. During the Soviet years he was convicted for rape. But three years ago Armenia’s court expunged his conviction.

Mind you the one thing most Armenians (various diasporas and Republic) have in common is that, sadly, we have no tradition or understanding of the concepts of democracy, human rights and civilised behaviour in politics. Armenia is a truly ‘Asian’ country in all senses of the word however much we pretend that we are European and, even worse, superior than our neighbours. It is in this environment that ghastly, petty local scum thrive and yes, create their own political parties to bleed the country even further.