Armenian court may seize former PM’s property

The Armenian Anti-Corruption Court has begun to consider the claim of the Prosecutor General's Office for the confiscation of the property of the former Speaker of Parliament, former Prime Minister Hovik Abrahamyan and a number of people close to him.

“The property, namely, 59 houses, 15 of which are in Yerevan, mainly in the city centre, is of illegal origin and is subject to confiscation,” the Prosecutor General's Office said, Caliber.Az reports citing the Armenian media.

The court may confiscate four cars, shares in 20 companies, 1.6 billion drams ($4.1 million) to be obtained as a result of the sale of nine houses as part of the trial.

The funds worth $11.5 million, 687 million drams ($1.6 million) and 3.1 million euros ($3.3 million) lent to various companies are also planned to be confiscated.

According to the prosecutor's office, Abrahamyan and people close to him also failed to prove the legal origin of 21.2 billion drams (more than $50 million), these funds will be also confiscated.