OMM Redaksiyası
Armenia’s Compulsory Enforcement Service said on Wednesday that restrictions had been imposed on about 29 real estate properties and 488 items of movable property belonging to Gagik Tsarukyan, as well as 33 vehicles and his stakes in 27 companies.
Under an enforcement document issued by Armenia’s Anti-Corruption Court, shares, securities and other assets belonging to 40 legal entities linked to Tsarukyan were also seized. Investigators said large sums of money and valuable jewelry were found and confiscated during a search of his private residence.
Prosecutors seek more than 105.8 billion drams
The measures are part of a broader case brought by Armenia’s Prosecutor General’s Office to confiscate assets allegedly acquired unlawfully. In a separate proceeding, the office is seeking the confiscation of 75 real estate properties linked to Tsarukyan, the value of another 10 properties, 42 vehicles and stakes in 38 legal entities.
The total monetary value sought in the claim exceeds 105.8 billion Armenian drams.
Tsarukyan suspected of fraud and money laundering
Tsarukyan, leader of the opposition Prosperous Armenia party and one of the country’s wealthiest businessmen, was detained in July and remanded in custody for two months on suspicion of large-scale fraud and money laundering.
Investigators accused Tsarukyan and a business partner of involvement in the fraudulent import of vehicles, equipment, fuel and other goods worth about $21 million from Iran between 2022 and 2024.
Armenian investigators later announced that the preliminary investigation into Tsarukyan and eight other people had been completed and that the case, with an indictment, had been sent to the supervising prosecutor. Authorities allege that proceeds from the unlawful activity were combined with legitimate income and used to launder assets and goods worth more than 8 billion drams, or $22 million.
Tsarukyan’s detention came shortly after Prime Minister Nikol Pashinyan was re-elected. During the election campaign, Pashinyan accused his main rivals of seeking to return Armenia to confrontation with Azerbaijan. Opposition parties have rejected the charges against Tsarukyan and other government critics, saying the prosecutions are politically motivated.
Tsarukyan, 69, is a former world arm-wrestling champion. After the collapse of the Soviet Union, he built a large business spanning gambling, construction, manufacturing and other sectors.
