This analytical text was written by Manvel Sargsyan in 2007-2008, but for obvious political reasons was never published. Meanwhile, the work not only remained relevant, but also became especially up-to-date due to the in-depth explanation of the essence of the criminal-oligarchic system of power, which the Armenian revolution of 2018 opposes. The first part of the work presents a constructive model that describes the structure of power relations operating in Armenia since the beginning of the 2000s. The second part, a chronicle of political events, allows drawing a fairly complete picture of the dynamics of the emergence and consolidation of this system.