Yerevan Ararat Brandy-Wine-Vodka Factory Placed Under State Administration

YEREVAN — The shares of the Yerevan Ararat Brandy-Wine-Vodka Factory, owned by businessman Gagik Tsarukyan, have been placed under the administration and custody of the Republic of Armenia, according to the Prosecutor General’s Office.

“As part of proceedings to confiscate property of illicit origin, and based on a motion filed by the Prosecutor General’s Office, the Anti-Corruption Court ordered that the shares of the Yerevan Ararat Brandy-Wine-Vodka Factory be placed under the administration and custody of the Republic of Armenia,” the Prosecutor General’s Office said in a statement.

On October 9, 2023, the Prosecutor General’s Office filed a lawsuit with the Anti-Corruption Court against Gagik Kolya Tsarukyan and individuals affiliated with him, seeking the confiscation of property allegedly acquired through illicit means.

Among other assets, the lawsuit sought the confiscation, in favor of the Republic of Armenia, of Tsarukyan’s shares in the Yerevan Ararat Brandy-Wine-Vodka Factory.

“On July 29, 2026, as part of the illicit asset forfeiture proceedings, the Prosecutor General’s Office filed a motion with the Anti-Corruption Court requesting an interim measure that would transfer the administration and custody of the company’s shares to the Republic of Armenia.

“By a decision issued on July 30, 2026, the court granted the motion. The administration and custody of the shares of the Yerevan Ararat Brandy-Wine-Vodka Factory were transferred to the Republic of Armenia, represented by the Ministry of Economy,” the Prosecutor General’s Office said.

In addition, the Prosecutor General’s Office is seeking the confiscation of the following assets from Tsarukyan and affiliated individuals:

• Seventy-five real estate properties, including 52 apartments in Yerevan’s Nor Nork district, five apartments on Abovyan Street, 11 apartments in Kotayk Province, and other properties;
• The market value of 10 properties;
• Forty-two vehicles;
• Ownership interests in 38 companies, including Multi Group, Multi Autotrans, Onira Club, and others.

The monetary claim totals 105.865 billion drams.

As part of the same illicit asset forfeiture proceedings, the Prosecutor General’s Office filed another motion with the Anti-Corruption Court on July 13, requesting that the shares of AraratCement be placed under the administration and custody of the Republic of Armenia.

The court granted the motion on July 15, transferring the administration and custody of AraratCement’s shares to the Armenian state.