Arsen Torosyan Acquires 4 Land Plots in One Month: The Assets of the Official and His Wife

Former Minister of Health and member of the Civil Contract party, Arsen Torosyan's official income and property declaration reveals significant financial success. Yerevan.today reports that the ruling party representative has become a serious capitalist in the last year and a half. In October 2021 alone, Torosyan completed three major real estate transactions in Kotayk and Aragatsotn provinces in one day. Ten days later, on November 26, 2021, he acquired yet another land plot in the administrative area of Karashamb in Kotayk province.

In total, during 2021, Torosyan purchased 4 land plots in one month in Armenia's most expensive summer cottage areas for 20 million dram. However, he has concealed the specific sizes or hectares of property purchased in his declaration. Notably, even in the year of the war, Torosyan had purchased land in the expensive region of Tsaghkadzor. What the official paid for these acquisitions, the sources of his income, and the purposes behind such significant land purchases remain unspecified.

In the Nor-Nork administrative district of Yerevan, Torosyan has also declared one residential house. In total, he owns five land plots and one residential house as a sole owner. Torosyan does not have any loans; his bank savings reportedly tripled or quintupled last year, increasing from 2 million 855 thousand dram at the start of 2021 to 12 million 463 thousand by the end of the year.

According to the declaration, Torosyan's investments include various securities in Bank Austria, yielding income of 20 thousand 737 euros, invested since January 15, 2020. Also notable is the section regarding donations; it states that in 2021, he received a donation of 9 million 520 thousand dram, listed under the name of his father, Gevorg Torosyan.

Last year, Torosyan also purchased a 2017 BMW for 17 million 750 thousand dram and, according to the declaration, sold another vehicle for a million less. As a parliament member, Torosyan stated that he had received income of 18 million 120 thousand dram from the state budget.

Torosyan's wife, Vardanush Tevanyan, has a Mercedes-Benz, a residential house in Nor-Nork, and a savings deposit of 35 thousand 500 dollars. Vardanush earned 35 million dram from their family business, MIBS LLC, and holds 9 million dram and 80 dollars in her accounts. Additionally, she has a loan of 19 million 380 thousand dram with Asiamegastrou LLC.