Will 16.8 Billion Drams of Illegally Acquired Property Be Confiscated from Gagik Beglaryan and Associated Individuals?

The court has accepted for consideration the prosecution's claim for the confiscation of roughly 16.8 billion drams worth of illegally acquired property and assets from Gagik Beglaryan and three associated individuals. This was announced by Gor Abrahamyan, advisor to the Chief Prosecutor of Armenia on media relations, on his Facebook page.

"On May 26, 2022, a lawsuit concerning the confiscation of illegally acquired property was submitted to the first instance court of general jurisdiction in Yerevan, which has been accepted for proceedings. According to the lawsuit, the Department for the Confiscation of Illegally Acquired Property of the RA Prosecutor General's Office has filed a case in court against Gagik Beglaryan, the former Mayor of Yerevan, a former Member of Parliament, and Minister of Transport and Communications, to confiscate from him and three related persons in favor of the Republic of Armenia, in particular, 33 apartments, lands, buildings, and parking lots located in Yerevan. Among these, 11 are on Northern Avenue, 7 on Khorenatsi Street, 3 on Arshakunyats Avenue, 2 private houses on Freedom Avenue, 2 plots on Tamanyan Street, 2 (one building and a parking lot) on Teryan Street, as well as real estate located in other administrative districts of Yerevan, 2 plots in Kotayk Province (in the community of Tsaghkadzor), and 1 plot in Ararat Province (in the community of Sis), along with 1 vehicle (a MERCEDES-BENZ S600L). If confiscation is not possible, the average market value of these properties will be required, totaling 10,704,483,825 AMD.

Furthermore, the claim includes rights to participation in 10 legal entities, the right to demand the return of an outstanding loan of 1,879,759,719 AMD, and income from the use of illegally acquired property amounting to 882,745,274.9 AMD, alongside the balance of funds generated from the sale of properties, which amounts to 3,317,008,604 AMD, arising from undocumented legal income. This property is deemed to have illegal origins and will be confiscated based on Article 20, Part 4 of the law on confiscation of illegally acquired property. This marks the tenth such claim filed by the RA Prosecutor General’s Office concerning the confiscation of illegally acquired property that the court has accepted for proceedings," Abrahamyan noted.