The House in the USA Belonging to the Family of Gagik Khachatryan Will Be Seized and Sold at Maximum Market Value

As part of a criminal case initiated in Armenia, through effective collaboration between the Prosecutor General's Office and relevant authorities in the United States, a house located in Los Angeles, belonging to former Armenian Minister of Finance Gagik Khachatryan's family, will be seized by a decision of a competent U.S. court and sold at the highest market value.

Negotiations are ongoing between the Prosecutor General's Office and U.S. authorities regarding the return of the substantial proceeds from the sale of the house to the Republic of Armenia.

It should be noted that in a criminal case initiated by the Investigative Department of the NSS of Armenia, public prosecution is being conducted against Gurgen and Artyom Khachatryan, including charges of money laundering (the case against Artyom Khachatryan has been sent to court, and there is a warrant for Gurgen Khachatryan). Meanwhile, the case against Gagik Khachatryan concerning the abuse of official powers, large-scale embezzlement, complicity in money laundering, and receipt of especially large bribes is currently under review by the First Instance Criminal Court of Yerevan.

As a result of the continuous cooperation between the Prosecutor General's Office and U.S. authorities, a corresponding judicial process was also initiated by U.S. authorities. Consequently, on June 14, 2024, Gurgen and Artyom Khachatryan submitted a request to the U.S. District Court regarding reaching an agreement regarding the seizure of their property, which was accepted for proceedings by the court.

By the court's decision on June 30, 2024, the agreement was confirmed. In addition to the criminal proceedings, within the framework of the claims for the seizure of illegally obtained property being examined by the Anti-Corruption Court, Gagik Khachatryan and 25 associated individuals, including his sons Gurgen and Artyom Khachatryan, are being required to forfeit 210 real estate properties, 13 vehicles, shares in 29 legal entities, as well as over 33 billion drams.