What Assets Do the Members of the Market Surveillance Inspectorate Hold?

Financially secure personnel are working in the leadership of the Market Surveillance Inspectorate, which operates under the government. According to the declarations available on the Ethics Commission website for High-Ranking Officials, the head of the Market Surveillance Inspectorate, Armen Kotolyan, as of September 2018, the day he took office, has $35,000 and 260,000 Russian rubles. Kotolyan has also declared a watch valued at over 8 million AMD.

The income that is formed from his salary amounts to about 2.5 million AMD. Notably, Armen Kotolyan, who is also a member of Yerevan City Council, made headlines during the extraordinary council meeting on June 17 when he intervened in a verbal exchange between Mayor Hayk Marutyan and opposition "Lus" faction member David Khajakyan. Khajakyan stated, "I don't know how to play blot, but my friends told me that after 'kuansh', there is 'kaput', I have already announced 'kuansh' to you, now I declare 'kaput'.” In response, Kotolyan stated, "But there is also reverse 'kaput', that can happen sometimes."

The deputies of the Market Surveillance Inspectorate do not fall behind in terms of wealth. The Deputy Head of the Inspectorate, Arthur Mkrtchyan, upon assuming office in 2017, declared an apartment in a residential building, a private house with associated structures, two land plots, and perennial seedlings. Mkrtchyan's declaration includes a VOLKSWAGEN PASSAT 2.0 FSI and a VAZ 2106 vehicle. His financial resources amount to 4.8 million AMD and $9,000. His income is 2.657 million AMD, which has come from his salary and property sales.

By 2018, an increase in Mkrtchyan's financial resources was noted, with monetary assets growing from 4.8 million AMD to 5.85 million AMD, while the $9,000 remained the same. His income from salary has also doubled, reaching 4.925 million AMD. Additionally, he had an income of half a million AMD from selling a land plot.

Another deputy of the Market Surveillance Inspectorate, Arman Avetisyan, declared a land plot, an apartment, a garage, and a PORSCHE CAYENNE S V8 4.8 vehicle when he took office in 2017. According to the declaration, Avetisyan manages significant financial resources that he lends out. In particular, he has lent 5 million Russian rubles, $68,000, and €12,000. His monetary resources amount to 45 million AMD and $64,500. Notably, his income was only 1 million AMD.

According to his 2018 annual declaration, Avetisyan lent out 5 million Russian rubles, $58,000, €13,200, and $70,000. His wife also has notable financial resources. Specifically, in 2017, Avetisyan's wife declared 48.5 million AMD and $115,000. The annual income of Avetisyan’s wife, Mary Mntatsakanyan, was 16 million AMD. The financial resources were also maintained in the 2018 declaration.