Armenian PM hails illicit asset confiscation from officials

Armenia’s Prime Minister Nikol Pashinyan has said a recent court ruling marks a significant step in the country’s efforts to confiscate assets obtained through illegal means.

Speaking during a session of the National Assembly on April 17, Pashinyan said the Court of Cassation had issued what he described as a precedent-setting decision in a case involving the seizure of illegally acquired property. He said the ruling represented an important development in ongoing legal efforts targeting illicit wealth, Caliber.Az reports per Armenian media. 

“I want to say that yesterday the RA Court of Cassation issued the first precedent-setting decision in a case regarding the confiscation of illegally appropriated property, and I am convinced that with this, the process of turning the circles you are familiar with into homeless people is now irreversible,” Pashinyan stated. 

The court ordered the confiscation of approximately $3.475 million, along with 2,000 bank shares and real estate, from Karapet Guloyan, the son-in-law of businessman and former lawmaker Gagik Tsarukyan.

By Sabina Mammadli