Armenian prosecutors take on Tsarukyan's empire
Armenia's Prosecutor General's Office is demanding that a number of real estate transactions linked to Prosperous Armenia Party leader Gagik Tsarukyan, including the "Arinj Mall" shopping center, be declared invalid.
On August 7 of this year, the prosecutor's office of Kotayk province filed lawsuits with the Anti-Corruption Court demanding that transactions and auctions concerning a number of real estate properties belonging to Gagik Tsarukyan and persons connected with him be declared invalid, Sputnik Armenia reports.
In particular, the prosecutor's office demanded that the October 4, 2015 auction for the sale of a 3.5-hectare plot of land under the "Arinj Mall" shopping center (owned by "Firma New" LLC), which was not subject to alienation, be declared invalid. Also being challenged is the validity of the October 2, 2025 agreement between Gagik Tsarukyan and "Firma New" LLC on contributing real estate as a non-monetary contribution to the company's authorized capital.
In another lawsuit, the prosecutor's office demanded that the January 26, 2003 auction for the sale of a 14.176-hectare plot of land under the mansion of Gagik Tsarukyan and his wife Javahir in the village of Arinj be declared invalid, as well as the February 15, 2003 real estate purchase agreement for 12.566 hectares concluded between Aramik Sedrakyan, Gayane Sedrakyan and Gagik Tsarukyan, and the March 14, 2013 real estate purchase agreement for 1.61 hectares concluded between Aramik Sedrakyan and Gagik Tsarukyan.
By a decision of the Anti-Corruption Court dated August 19, 2026, both lawsuits were accepted for proceedings and interim measures were imposed. Thus, "Firma New" LLC is prohibited from taking any actions with regard to the 3.5-hectare plot of land located in the village of Arinj (the shopping center). Gagik Tsarukyan and his wife Javahir Tsarukyan are also prohibited from taking any actions with regard to the mansions on the 12.566-hectare and 1.61-hectare plots.
The day before, it became known that the lawyers of the arrested leader of the Prosperous Armenia party, Gagik Tsarukyan, had filed two complaints with the European Court of Human Rights — the court accepted them for consideration.
As a reminder, on July 6, 2026, Armenia's Investigative Committee conducted large-scale searches at Gagik Tsarukyan's home and at facilities connected with him at more than 70 addresses. After the investigative actions were completed, the facilities were sealed, and the businessman was arrested for two months. Tsarukyan has been charged under a number of articles, including those related to organizing fraud and legalizing funds on an especially large scale. He is also accused of fraud and the embezzlement of $934,000, illegal hunting and causing the state damage in the amount of more than $81,000. Later, the charges were supplemented with articles on extortion and money laundering.
In addition, the Yerevan Brandy-Wine-Vodka Factory "Ararat," the "Araratcement" plant and the "Multi Wellness" sports complex were seized from Tsarukyan.
The prosecutor's office is also demanding the confiscation from Tsarukyan and persons connected with him of 75 real estate properties, including 52 apartments in Yerevan's Nor Nork district, five apartments on Abovyan Street in central Yerevan and 11 apartments in Kotayk province. In addition, the case concerns the market value of another 10 pieces of property, 42 vehicles and shares in 38 companies.
