Seven Apartments, Two Land Plots, and Three Cars Seized from Former Metro Director; Lawsuits Accepted for Proceedings

The Public Relations Department of the Prosecutor General’s Office of Armenia reports that two new lawsuits concerning the confiscation of illegally obtained property have been accepted for proceedings by the Court of General Jurisdiction of Yerevan.

The confiscation department of the Prosecutor General's Office has filed claims against Paghak Yailoyan, the former director of the Yerevan Metro named after K. Demirchyan, and five individuals connected to him, demanding the court to confiscate on behalf of the Republic of Armenia:

• Seven apartments located at various addresses in Yerevan,
• Property in the Arinj community of Kotayk Province (for some, 84% to 94% of the share), or in case of impossibility, the average market value of these properties totaling 702,472,355 AMD,
• Two land plots in the Dzhrvej community of Kotayk Province (one of which is partial),
• A parking lot on P. Proshyan Street in Yerevan,
• Two buildings on Baghramyan Boulevard and P. Proshyan Street in Yerevan, with an average market value of these properties totaling 535,699,753 AMD in case of impossibility,
• Three movable properties (vehicles, including one that has 79.47% ownership), with an average market value of these properties totaling 27,745,000 AMD in case of impossibility,
• Shares of two LLCs, with 84.92% of one share and 50% share of the other, totaling 29,847,801 AMD,
• A total of 272,240,034 AMD that is not substantiated by the legal income of P. Yailoyan and his two sons, which has illegal origins and cannot be confiscated as it has been transferred to a bona fide acquirer or cannot be identified and confiscated.

The process of submitting lawsuits for the confiscation of illegally obtained property continues following investigations conducted by the confiscation department of the Prosecutor General’s Office.