Property, Vehicles, and Funds Worth Over 17 Million Dram to Be Returned to Armenia

The Anti-Corruption Court, presided over by Judge Karapet Badalyan, has delivered its first ruling in a case concerning the confiscation of assets of illegal origin.

The court has ruled to seize, as assets of illegal origin, a residential house located in the Vahagni neighborhood of Yerevan, owned by Gevorg Vardanyan, director of 'Poly-Transport' LLC, which is connected to former official Lyova Sargsyan. In addition, the decision includes the confiscation of two 'KAMAZ' brand vehicles, 25% of the shares owned by Vardanyan in 'Lavita Farm' company, and 20.3% of stakes in 'Poly-Transport' LLC. Furthermore, a monetary claim exceeding 10 million dram against 'Poly-Transport' LLC and additional cash assets totalling more than 17 million dram, which were not justified by legal income, are also subject to confiscation.

This decision will come into effect one month after its publication and can be appealed to the Court of Appeals against Corruption within a one-month period from the date of publication.