Maher Sedrakyan and Three Connected Individuals to Forfeit 11 Billion Dram in Illegal Assets

The Anti-Corruption Court has accepted a new claim regarding the forfeiture of illegally obtained assets. This was reported by the Republic of Armenia's Prosecutor General's Office.

The Asset Forfeiture Unit of the Prosecutor General's Office has demanded the seizure of approximately 11 billion dram worth of illegal assets from former National Assembly member and former head of the Erebuni administrative district, M. S. (Maher Sedrakyan), and three individuals connected to him, in favor of the Republic of Armenia.

Specifically, the claim includes 21 real estate properties in Yerevan, one real estate property with an average market value, one real estate property in Kotayk Province, one vehicle, and, in the event of impossibility, their average market value, which totals more than 2.3 billion dram (some properties are still not appraised).

The claim also involves participation in eight legal entities and a right to a loan claim. Additionally, more than 8.6 billion dram is subject to forfeiture as the remainder of illegal income and the total of funds transferred to bona fide third parties without legitimate sources of income.