Based on a final court ruling in an illicit asset confiscation case, ownership rights have been registered to the Republic of Armenia over property confiscated from former Kotayk governor and former Abovyan mayor Karapet Guloyan and his wife, Rosa Tsarukyan.
The confiscated assets include around 90 percent of the property recognized as illicit at 8 P. Sevak Street, 14th Street, Arinj village in Kotayk province, a land plot at 29/2 Tandzaghbyur Street in Tsaghkadzor, and 2,000 shares of ACBA Bank.
The Prosecutor General’s Office had earlier announced that the Court of Cassation had upheld the prosecution’s lawsuit seeking confiscation of illicitly obtained property.
According to the ruling, in addition to the assets already transferred to state ownership, the following are also subject to confiscation from Karapet Guloyan and Rosa Gagik Tsarukyan:
- The right to claim $264,000, representing the unpaid portion of a $294,900 loan granted to Belglas LLC in 2021.
- 1.227 billion drams as expenses not justified by Karapet Guloyan’s lawful income.
- 58.12 million drams identified as the remainder of illicit income resulting from the transformation or use of illegally obtained assets.
- 934,000 drams representing the value of 267 shares acquired in 2019 in Elektromontazh OJSC.
In 2025, a criminal case against Karapet Guloyan, who served as mayor of Abovyan from 2008 to 2015, was referred to court. According to the charges, Guloyan abused his authority and, with the assistance of other municipal officials and citizens, alienated land plots located in parks, public gardens, and streets of the Abovyan community in 65 separate instances through direct sales or allegedly fraudulent auctions.
In two instances, he is accused of using his official position and acting in prior agreement with affiliated individuals to launder especially large amounts of property obtained through criminal activity.
