20 Properties Worth 22 Billion Drams: Kocharian and Family's Illegal Assets Up for Seizure

Based on an application from the property confiscation department of the General Prosecutor's Office, the Anti-Corruption Court, in its ruling dated July 13, 2023, has applied preliminary security measures to the properties of Armenia's second president, Robert Kocharian, and seven individuals related to him (family members including his wife, children, and their spouses).

According to preliminary findings, the following assets have been deemed illegal and subject to confiscation:

• 20 properties, primarily located in buildings within the Kentron administrative district of Yerevan.
• 2 vehicles.
• Participation in 18 legal entities, both domestic and foreign.
• Over $1.5 million in deposits and securities.
• Loans amounting to around 10 billion drams provided to individuals and legal entities.
• Approximately 22 billion drams, which represent the total of funds of illegal origin, funds transferred to bona fide third parties, and other expended funds that have not been identified.