Nephew of Serzh Sargsyan has shares in small HPP and large sums of money confiscated
Armenia's Anti-Corruption Court has ruled to confiscate shares in the small hydroelectric power plant (HPP) 'Areni' and monetary funds from Ani Sargsyan, the niece of former President Serzh Sargsyan.
The decision was made as part of a partial satisfaction of a lawsuit filed by the General Prosecutor's Office for the recovery of illegally acquired property.
According to the court's decision, 39,341 shares of the 'Areni' HPP owned by Ani Sargsyan (daughter of Levon Sargsyan, brother of Serzh Sargsyan) are to be seized in favor of the state. The value of the share package is not specified, although the total value of the plant is estimated at approximately 686 million drams (over $1.8 million).
Bank deposits placed in April 2021 and the interest accrued on them are also subject to confiscation: about $864,000, more than 12 million drams (approximately $32,000), and around 5,000 euros.
Additionally, the court ordered the seizure of 643,000 drams (about $1,690), recognized as illegally acquired and transferred to third parties in 2020–2021.
Source: Sputnik Armenia
