Revealed Signs of Money Laundering in Stepanavan: Criminal Case Initiated

The Investigation Committee of Armenia's Lori Regional Department has obtained factual data during the preliminary investigation of a criminal case initiated on September 13, indicating that the former mayor of Stepanavan, S.G., from 2004 to 2012, allegedly abused his official powers. This involved the illegal appropriation of land areas classified as public parks, which are not transferable to individuals or legal entities under Article 60 of the Armenian Land Code. He separated and unlawfully transferred land parcels from state-owned forests and municipal land to various individuals, including his cousin's son and the 'Renaissance' charitable foundation he participated in establishing.

This information was provided by the Armenian Prosecutor General's Office. The ongoing investigation has revealed that S.G. allegedly transferred a total of 1.433 hectares of these unlawfully acquired real estate properties to his sons in 2014 and 2017 under the names of the above-mentioned individuals and entities, in an effort to conceal the criminal origin of these assets.

The Prosecutor General's Office, considering the findings in the scope of its prosecutorial powers, has identified signs of a crime related to the legalization of proceeds obtained through criminal means (money laundering). As a result, a criminal case has been initiated by the Deputy Prosecutor of Lori Region. The materials of the criminal case have been sent to the Lori Regional Investigation Department for further investigation.