15 Properties, 58.5 Million Drams. Lawsuit Against Former Mayor of Masis Accepted for Proceedings

The Prosecutor General's Office's department for the confiscation of property of illegal origin has submitted a demand to the court to confiscate 15 real estate properties from former Masis Mayor S.H. and associated individuals in favor of the Republic of Armenia. If confiscation is not possible, their average market values should be determined, amounting to more than 288 million 86 thousand 250 drams.

This includes participation in one legal entity, five movable properties, and five real estate properties that have yet to be appraised, totaling 58 million 515 thousand 628 drams. This amount is deemed to have illegal origins, as it cannot be substantiated by the individual's legal income during the years 1998-2021. The properties have been transferred to a bona fide purchaser or cannot be identified and confiscated, based on Article 20, Part 4 of the Law of the Republic of Armenia on the Confiscation of Property of Illegal Origin. (If property of illegal origin has been transferred to a bona fide purchaser or cannot be identified, separated, or confiscated, then if there are grounds for a claim, the court may order the confiscation from the defendant of the market value of the illegal property at the time of the claim submission, or if it is impossible to determine the market value, the amount equal to the acquisition value of that property.)