VIDEO: Land worth 95 million sold for 5 million 982 thousand drams - police investigation revealed

The information received by the Financial and Intellectual Property Crime Division of the Main Department of Criminal Police pertains to the activities of a group of officials from the Yerevan City Hall. During the verification operations, factual data was obtained indicating that, with the aim of legalizing a piece of land that is community property but was illegally seized by a citizen, the officials, with prior agreement, accepted retroactive applications from the citizen dated December 30, 2020, before preparing and presenting legalization projects for the illegally constructed buildings on the communal property to the Yerevan Mayor.

As a result, in addition to the self-constructed buildings that were legalized by the mayor's decisions, a 1994 square meter plot was sold directly to the citizen at a preferential price of 5 million 982 thousand drams, whereas its cadastral value exceeds 32 million, and its market value is 95 million.

Due to the illegality, the Yerevan community was deprived of the right to manage property of considerable value and to alienate it through auction in the future. A criminal proceeding has been initiated in the Anti-Corruption Committee regarding the incident.