YEREVAN—The Office of Armenia’s Prosecutor General announced today its decision to confiscate a string of properties and assets owned by ex-President Robert Kocharyan and seven individuals affiliated with him, namely his wife, children, and their spouses.
The Office of the Prosecutor General stated that, based on the written application from the Department for Confiscation of Property of Illegal Origin, a preliminary measure was taken to secure the claim.
According to the preliminary investigation results, the following properties and assets were deemed illegal and subject to confiscation:
- 20 pieces of real estate primarily located in the Kentron administrative district of Yerevan.
- 2 vehicles.
- Shares in 18 Armenian and foreign legal entities.
- Deposits and securities amounting to over $1.5 million.
- Loans of about 10 billion drams (approximately $26 million) granted to individuals and legal entities.
- Approximately 22 billion drams (around $57 million) representing the total balance of funds of illegal origin, funds transferred to third parties in good faith, and other unidentified expenditures.