Judge Mnatsakan Martirosian ordered that Hovsepian pay 100 million drams (about $245,000) before being released from custody pending trial.
Hovsepian’s lawyers had argued that their client suffered from a number of diseases, including severe diabetes, that they insisted were incompatible with detention.
Hovsepian, 69, served as Armenia’s chief prosecutor from 1998-1999 and 2004-2013. He went on to become the first head of a newly created law-enforcement agency, the Investigative Committee, in 2014. He ran the committee until the 2018 “Velvet Revolution” that brought current Prime Minister Nikol Pashinian to power.
Hovsepian was one of Armenia’s most powerful state officials during his tenure.
The former top prosecutor now stands accused of bribery, money laundering and illegal entrepreneurial activity.
The Anti-Corruption Committee claims that he also misappropriated several properties while in office.
Hovsepian denied the charges at the start of his trial in early May. He said these charges are based on false testimony given by two individuals.