Prosecution Demands the Seizure of Financial Assets and Property from Vigen Sargsyan

The Office of the Prosecutor General of Armenia has demanded the seizure of financial assets, residential properties, and real estate from former Minister of Defense Vigen Sargsyan and an associated individual, both in the United States and in Armenia.

It is noted that the Anti-Corruption Court has accepted a new petition for the confiscation of property of illegal origin from the Prosecutor General's Office on May 15, 2024.

Vigen Sargsyan is required to forfeit:

• Real estate in the center of Yerevan, and in case of impossibility, the average market value of the property amounting to 181 million 125 thousand drams.
• A residential property located in Massachusetts, USA, and in case of impossibility, the acquisition value of the property equivalent to 940 million 909 thousand drams ($2 million 50 thousand).
• 255 million 454 thousand drams as the balance of illegal financial assets.
• 172 million 486 thousand drams, which is not substantiated by the individual’s legal income, is of illegal origin and cannot be seized, as it was transferred to a bona fide acquirer between 2004 and 2022. This includes financial assets existing in commercial banks in the name of L.G. during the joint life span.

It should be reminded that the former minister is accused of conducting actions beyond his authority during the distribution of apartments in a multi-apartment building located at 25/6 G. Hasratyan Street in Yerevan, which was on the Ministry’s balance in January 2018.

In February 2023, the Court of General Jurisdiction of Yerevan granted a petition for Vigen Sargsyan's arrest, and a search warrant has also been issued for him. Sargsyan has issued a statement, deeming the charges against him as political persecution and a blatant violation of human rights.

On October 26, 2023, the Prosecutor General's Office reported that a new public criminal prosecution has been initiated against Vigen Sargsyan. He is accused of conducting actions that were clearly beyond the scope of his authority during the distribution of apartments in the multi-apartment building on Hasratyan Street in Yerevan, with an additional 30 victims emerging in the case.