Armenian court orders confiscation of assets belonging to ex-president's niece

Armenia’s Anti-Corruption Court has ordered the confiscation of shares in a small hydropower plant and large cash deposits belonging to the niece of former Armenian President Serzh Sargsyan.

According to the ruling, 39,341 shares in the Areni plant owned by Ani Sargsyan will be seized in favour of the state, Caliber.Az reports, citing Armenian media.

The value of the stake has not been disclosed, while the total value of the power plant is estimated at around 686 million drams (over $1.8 million).

In addition, her bank deposits in US dollars, Armenian drams, and euros, along with accrued interest—totalling $864,000, $32,000, and $1,690—will also be confiscated as part of a case involving illegally acquired assets.

In 2018, Ani Sargsyan was accused of concealing information in her declaration of income and assets.

By Bakhtiyar Abbasov