YEREVAN — A department of Armenian Office of Prosecutor General in charge of confiscation of assets deemed to have been acquired illegally said today that money as well property owned by ex-president Serzh Sargsyan’s brother Levon Sargsyan, his son Narek and daughter Ani in the total amount of $9.4 million are of illegal origin and are subject to confiscation.

Under a law enacted by the Armenian government in 2020 prosecutors can seek asset forfeiture in case of having “sufficient grounds to suspect” that the market value of an individual’s properties exceeds their “legal income” by at least 50 million drams ($100,000).

According to the department, the assets to be seized from ex-president’s brother and his children include $6.8 million in deposits in commercial banks, as well as 9 pieces of real estate, 2 pieces of movable property and shares in 3 companies.

All three cases have been referred to the Anticorruption Court. Levon Sargsyan’s lawyer said his client does not admit the charges.

A search was announced for Levon Sargsyan after a court in Armenia issued in 2018 an arrest warrant for him.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the latest updates from MassisPost.

You May Also Like

International Chess Great Levon Aronian Holds Chess Camp in Los Angeles

GlLENDALE – On Monday, July 7, 2014, World Cup and 3 time…

Creative Armenia and AGBU Announce 2019 Fellows

Five exceptional artists selected for career acceleration Creative Armenia and the Armenian…

Tens of Thousands of Armenians Demanded Justice at a Rally in Front of Turkish Consulate in Los Angeles

LOS ANGELES — On the afternoon of April 24, tens of thousands…

Armenian Troops to Participate in Moscow Military Parade

YEREVAN – Armenian soldiers will march in the upcoming Russian military parade…