Property of Gagik Tsarukyan`s son-in-law to be confiscated in favor  of public 

ArmInfo. Approximately 1.3 billion drams, 2,000 bank shares, and real estate are to be confiscated in favor of the state from former Abovyan Mayor Karapet Guloyan, the son-in-law of businessman and leader of the Prosperous Armenia Party Gagik Tsarukyan. 

According to the press service of the RA Prosecutor General's Office,  the Cassation Court partially upheld the prosecutor's office's  appeal, and the ruling has entered into force.

As a reminder, the Prosecutor General's Office's Department for  Confiscation of Illegally Acquired Assets filed a lawsuit against  Karapet Guloyan and his associates in the Anti-Corruption Court. By  its decision of July 1, 2024, the Anti-Corruption Court partially  satisfied the claim of the Prosecutor General's Office of the  Republic of Armenia against Murad Guloyan, Roza Tsarukyan, and third  parties, Abovyan City LLC and Belglass, for the seizure of property  of illegal origin.

Thus, the following will be seized in favor of the Republic of  Armenia: the illegal part of the real estate located at 8 Building,  Arinzh Village, Kotayk Region, which constitutes approximately 90% of  the real estate; the land plot located at 29/2 Tandzaghbyur Street,  Tsaghkadzor Community, Kotayk Region; 2,000 shares of ACBA BANK OJSC;  and the right to collect $264,000 from the outstanding portion of the  $294,900 loan provided to Belglass LLC in 2021.

In addition to the above, the following assets will also be  confiscated from Karapet Murad Guloyan in favor of the Republic of  Armenia: 934,000 drams as the value of 267 shares of Elektromontazh  OJSC acquired in 2019, 1,227,490,966 drams as expenses not justified  by the legal income of Karapet Guloyan of illegal origin, transferred  to a bona fide purchaser in the period 2007-2022 or not subject to  identification and confiscation, 58,120,147 drams as the remainder of  illegal income, that is, the amount received as a result of the use  of property of illegal origin.