The Process of Confiscating Illegally Obtained Assets Must Go Forward

By  KRIKOR KHODANIAN

Almost six years have passed since the popular revolution of 2018, and only now are cases related to illegal enrichment and embezzlement of state funds reaching the courts. Recently published lists reveal enormous sums of money, real estate, shares, and bonds amassed by former high-ranking officials or their relatives. Among them is Robert Kocharyan, who served as president for a decade, along with his family members.

In a recent development, the General Prosecutor’s Office of the Republic of Armenia (RA) demanded that Sedrak Kocharyan, Robert Kocharyan’s son, forfeit various real estate assets and financial resources believed to be of illegal origin to the Armenian state. This list includes 14 fixed assets—buildings and structures in Yerevan, bonds valued in the millions, cash derived from unlawful sources, and a private villa on the Greek island of Mykonos. The full list is too extensive to cover here.

The younger Kocharyan accumulated this wealth without a day of employment. Instead, he became a millionaire through business ventures that began at the age of 19. Sedrak Kocharyan is not the only wealthy individual in his family; the entire Kocharyan clan’s assets are currently under review by the prosecutor’s office.

A similar situation applies to former president Serzh Sargsyan, whose son-in-law Mikayel Minasyan, brother Alexander Sargsyan, former chief prosecutor Agvan Hovsepyan, and other members of the privileged elite are all on the state’s list for asset forfeiture.

Surprisingly, a group of lawyers has petitioned the Constitutional Court, arguing that the confiscation process is unlawful and should be halted. Their stance effectively suggests that what was taken from the Armenian people should now be off-limits.

Former regime members and their allies, who occasionally rally in the name of Artsakh, bear significant responsibility for its loss. Instead of bolstering the army with modern weapons, they plundered the state. In contrast, the proposed budget for next year allocates $1.7 billion to Armenia’s armed forces and defense—a sum five times greater than the total military spending during Kocharyan and Sargsyan’s combined 20 years in office.

Some funds from these corruption cases have started flowing back into the state treasury. Yet there are still substantial sums that must be reclaimed for the people, to drive Armenia’s development, improve the welfare of its citizens, and strengthen the army. Stopping this process would be a profound injustice to the Armenian state and a stain on its integrity.

The process of confiscating illegally obtained assets must continue.

“MASSIS”