Armenia files lawsuit to seize oligarch’s Tsarukyan Sevan shore property

Armenia’s Prosecutor General’s Office has filed a lawsuit with the Anti-Corruption Court seeking the confiscation of property linked to oligarch Gagik Tsarukyan on the shores of Lake Sevan, the prosecutor’s press service said, according to TASS.

The claim targets assets owned by the Multi Group concern and calls for the revocation of ownership rights to a 1.21-hectare land plot and a 60-square-metre wooden structure registered on November 29, 1996.

Prosecutors are also seeking to invalidate a sale and purchase agreement dated September 8, 2000, between Beglu CJSC and Tsarukyan. In addition, the lawsuit calls for the annulment of a lease agreement signed on November 28, 2025, between the state non-commercial organisation Sevan National Park and the company.

If the court rules in favour of the прокуратура, a separate land plot measuring 0.29114 hectares, along with buildings and structures located on it, would be transferred into state ownership. These include residential houses with a total area of 425.12 square metres, a boat station of 23.04 square metres, and a fence covering 100.8 square metres.

The case forms part of broader legal efforts targeting assets linked to prominent business figures in Armenia.

By Tamilla Hasanova