Land Purchased for 1 Million Dram Sold for 247 Million a Year Later, Says Hayk Marutyan

In 2006, a plot of land was bought in the Kanaker-Zeytun community of Yerevan for 1 million dram, and just one year later, the same plot was sold for 247 million dram. This was stated by the mayor Hayk Marutyan during the question-and-answer session at the municipal council's meeting today.

He also informed that in 2016, the prosecutor's office opened a case, but it did not progress further due to the statute of limitations having expired.

“In 2016, they reopened the criminal case, and I was even surprised, thinking ‘Wow, they are interested, a case has been opened,’ but then it turned out they opened it just to close it. They said, ‘Well, ten years have passed, we have no action to take.’ It is true that there was abuse, but since the statute of limitations has passed, no one will face criminal liability,” noted Marutyan.

The mayor also mentioned that a company had proposed a project for construction on that land, but under the current circumstances, that is effectively not possible.