Planning and objectives In early 1896, ARF leaders, including
Christapor Mikaelian, approved Siuni's proposal to seize the Ottoman Bank, a financial hub for European investors. The operation aimed to force European intervention by threatening economic interests. Siuni and
Karekin Pastermadjian (Armen Garo) recruited 28 militants, including students and artisans, and stockpiled grenades and Mauser pistols.
The attack On 26 August 1896, the group stormed the bank, taking 150 hostages. Siuni carried explosives under a traditional Armenian vest (arkhalig). During the initial assault, a stray bullet detonated a grenade, killing him instantly. Despite his death, the militants held the bank for 14 hours, demanding European oversight for Armenian reforms.
Aftermath French and Russian diplomats negotiated the militants' safe passage to Marseille. While the takeover drew global headlines, European powers took no concrete action, emboldening Ottoman reprisals. Over 6,000 Armenians in Constantinople were massacred in retaliation. == Legacy ==