Investigation Launched on Assets Belonging to 206 Individuals in Illegal Asset Seizure Process

The Office of the Prosecutor General of Armenia has announced that an investigation has been launched regarding the assets owned by 206 individuals in the context of the process for the seizure of illegal assets.

The statement released by the Prosecutor General’s Office reads: “In order to organize the investigations of illegal asset seizures as expeditiously as possible and to ensure their unimpeded execution in accordance with the law, structural divisions of the Prosecutor General’s Office identified criminal cases in August 2020 where there may be grounds for suspicion of the existence of illegally obtained assets.”

“All relevant materials related to these identified cases have been forwarded to the Department of Illegal Asset Seizures at the Prosecutor General’s Office. Since September 3, 2020, that is, from the establishment of the responsible division until November 15 of the same year, the department received approximately 200 materials relating to 405 entities possibly possessing illegally obtained assets.”

“Based on the verification of the existence of grounds for initiating investigations, it has been decided to commence investigations regarding assets owned by 206 of those individuals, which are currently underway.”

“Each investigation is carried out with comprehensive, detailed, and result-oriented analysis aimed at swiftly and effectively implementing the procedures stipulated by the ‘Law on Seizure of Illegally Obtained Assets’ while respecting and recognizing the rights of citizens.”

“The Department of Illegal Asset Seizures has been operating under significant strain, taking into account that the department’s full staff complement has not yet been completed.”

“It should be noted that the selection of prosecutors for this department has been carried out through an open competition, and as a result, five individuals who were declared winners and completed specialized training at the Academy of Justice of Armenia have been appointed to the positions of prosecutors.”

“Currently, three candidates for the vacant positions of prosecutors are undergoing training at the Academy of Justice of Armenia following the second open competition conducted on November 3, which they passed, and they may join and complete the team of prosecutors by the beginning of next month upon successful completion of their training.”

“Economists have also been involved in the effective implementation of the department’s activities. Following the establishment of the responsible division, an open competition was announced for their selection, with four economists recognized as winners.”

“Throughout this initiated process, every legal tool will be utilized thoroughly and consistently to obtain information regarding illegally obtained assets, to extract them from economic circulation, and to return them to their legal owner—the state—through exclusively legal procedures and legitimate means, thereby restoring the violated rights of the state.”