The Court of Cassation partially upheld the appeal filed by the Deputy Prosecutor General, giving legal force to the ruling of the Anti-Corruption Court of First Instance, under which approximately 1.3 billion drams, shares, and real estate will be confiscated from former head of Abovyan community in Kotayk province Karapet Ghuloyan and Roza Tsarukyan.
Earlier, the Department for the Confiscation of Illicit Assets at the Prosecutor General’s Office had filed a lawsuit against Karapet Ghuloyan and individuals affiliated with him.
By its July 1, 2024 decision, the Anti-Corruption Court partially granted the claim filed by the Prosecutor General’s Office against Karapet Ghuloyan, Roza Tsarukyan, and third parties “Abovyan City” and “Belglas” LLCs, seeking confiscation of property of illicit origin.
Thus, under the ruling that has entered into legal force, the following assets will be confiscated in favor of the Republic of Armenia from Karapet Ghuloyan and Roza Tsarukyan as property of illicit origin:
– About 90% of the real estate located at 8, 14th Street, Paruyr Sevak district, Arinj village, Kotayk province, recognized as illicit,
– A land plot at 29/2 Tandzaghbyur Street in Tsaghkadzor community, in full,
– 2,000 shares of ACBA Bank OJSC,
– The right to claim 264,000 U.S. dollars, representing the unpaid portion of a 294,900 U.S. dollar loan issued to “Belglas” LLC in 2021.
In addition, the following will be confiscated from Karapet Ghuloyan in favor of the Republic of Armenia:
– 934,000 drams, representing the value of 267 shares of “Electromontazh” OJSC acquired in 2019,
– 1,227,490,966 drams, representing expenses not justified by lawful income and deemed of illicit origin, transferred during 2007–2022 to a bona fide acquirer or otherwise impossible to identify and confiscate,
– 58,120,147 drams, representing the остаток illicit income generated as a result of the transformation or use of illicit assets.
