Post Sheikh Investors, Legality of Gagik Tsarukyan's Family Properties Under Review

According to the newspaper «Zhoghavorod», the topic of Sheikh investors has intensified the relations between the government and the Prosperous Armenia Party (PAP).

Recently, reports reached «Zhoghavorod» that municipal employees have been instructed to investigate and determine the legality of the buildings owned by Gagik Tsarukyan's family since 2002. Already, they have reportedly found some issues related to the company «Olimpavan» that belongs to Tsarukyan.

In response to our inquiries, Yerevan city hall stated that the information about the inspections on Tsarukyan’s properties is not accurate; however, it acknowledged that the «Olimpavan» complex was constructed with violations. According to the city authorities' response, «The construction by the developer was carried out with gross project deviations, resulting in the seizure of 990.6 square meters (619.18 sq.m + 670.88 sq.m) of community significance land.»

Our questions to the PAP went unanswered yesterday, but they promised to respond today.

For more details, refer to today’s issue of the newspaper.