Armenia's Prosecutor General's Office demands confiscation of $290 million from Tsarukyan

The Prosecutor General's Office is demanding the confiscation of 105.9 billion drams (about $290 million), 75 real estate properties and other assets from businessman and leader of the Prosperous Armenia party Gagik Tsarukyan and persons connected to him.

This was announced by Koryun Serobyan, head of the Prosecutor General's Office department for cases involving the confiscation of property of illegal origin, in an interview with Public Television.

"From Gagik Tsarukyan and persons connected to him, 75 real estate properties are subject to confiscation, including 52 apartments in the Nor Nork district and 5 apartments on Abovyan Street, 11 apartments in the Kotayk region. The market value of 10 real estate properties and 42 vehicles, as well as shareholdings in 38 legal entities, including Multi Group Concern LLC, Multi Avtotrans LLC, Onira Club LLC and other legal entities, are subject to confiscation. A separate monetary claim for 105.9 billion drams has also been filed," he said, news.am reports.

Gagik Tsarukyan was arrested on July 7 for two months. He is charged with fraud and money laundering on an especially large scale. A case has also been opened against the politician for the illegal hunting of wild animals. As of today, about 70 companies connected to Tsarukyan have been sealed and are idle, while employees hold protests almost daily demanding that the closed enterprises resume operations.