Armenian authorities to confiscate all real estate of Sargsyan's associate

Armenian Prosecutor General's Office intends to confiscate 210 properties from the former Armenian Minister of Finance Gagik Khachatryan and his associates, the Prosecutor General's Office said in a statement.

"Within the framework of the mechanism of confiscation of property of illegal origin 210 items of immovable property are subject to confiscation from Gagik Khachatryan and 25 persons affiliated with him and 60 of them - in Yerevan," the statement says, Caliber.Az reports quoting Armenian media.

Additionally, the Prosecutor's Office demands the confiscation of 14 vehicles, shares in 33 companies, as well as more than 40 billion drams (almost $98.8 million).

Earlier it was reported that the family of the former Armenian Minister of Finance Gagik Khachatryan will challenge the confiscation of their property in California.

The lawsuit was filed on May 5 in the Central District Court of California, demanding the confiscation of commercial real estate in the Chambi Hills neighborhood of Los Angeles, owned by Khachatryans.

The Khachatryans' lawyers qualify the trial as the next case of groundless obstruction of businessmen's economic activity.

It should be recalled that one of the most influential representatives of the former government, the former Minister of Finance of Armenia (in 2014-2016 - ed.) is charged with misappropriation or embezzlement of another's property, complicity in misappropriation or embezzlement of another's property entrusted to the guilty party, using his official position in especially large amounts, and complicity in the legalisation of illegally obtained income in especially large amounts.