Tsarukyan's arrest turned into a new blow to his business empire

The Prosecutor General's Office of Armenia demands the return to state ownership of residential buildings, a land plot, and other structures located on the coastal territory of Lake Sevan and, according to the agency, illegally owned by Multi Group Concern LLC.

As the agency's press service reports, the Anti-Corruption Court has accepted for proceedings a lawsuit in defense of state interests.

The defendants in the case are Beglu CJSC, the State Property Management Committee, Prosperous Armenia party leader and businessman Gagik Tsarukyan, Multi Group Concern LLC, and the Sevan National Park SNPO.

The Prosecutor General's Office asks the court to invalidate the contract of November 29, 1996, as well as a number of subsequent transactions and registration actions related to this property.

As a result, the Prosecutor General's Office demands the return to the ownership of the Republic of Armenia of a land plot with an area of 0.29114 hectares, as well as real estate objects located on it: residential buildings with a total area of 425.12 sq. m, a pier with an area of 23.04 sq. m, and a fence with an area of 100.8 sq. m.

At the same time, the Anti-Corruption Court granted the Prosecutor General's Office's motion to take interim measures. Until the case is considered on the merits, the defendants are prohibited from taking actions that could lead to a change in the owner of the disputed property or a change in its actual condition.

Within the framework of the criminal proceedings concerning businessman and Prosperous Armenia party leader Gagik Tsarukyan, another person has been arrested and another has been detained.

Tsarukyan was detained on July 6. According to the investigation, a group of citizens organized by Tsarukyan was engaged in fraud and legalization (laundering) of funds on an especially large scale. According to the case materials, in 2022–2024, under the guise of developing trade relations with Iran, they stole property worth over 8.1 billion drams (about $21 million) and subsequently legalized the proceeds.

On July 7, the court decided to arrest Gagik Tsarukyan for two months. According to the Investigative Committee, he was arrested on charges of fraud on an especially large scale and money laundering. According to lawyers, Tsarukyan will serve his sentence at the Kentron penitentiary institution, and the defense, after receiving the court decision, will appeal it to a higher instance.

Source: News Armenia