Prosecutor's Office Demands Seizure of 5 Properties and 163 Million Drams from Argam Hovsepyan

The Anti-Corruption Court has accepted the latest application from the Prosecutor General's Office regarding the seizure of property with illegal origins. The property seizure division of the Prosecutor General's Office has submitted a request to the court to confiscate 5 immovable properties located in Yerevan from Argam Norayr Hovsepyan, Director of the National Bureau of Expertise of the National Academy of Sciences of Armenia (whose powers have been suspended in the criminal proceedings), as well as from related persons in favor of the Republic of Armenia.

Among these properties, 2 are located in the Central administrative district. The seizure also includes 1 vehicle, as well as a sum of 162 million 812 thousand drams, which cannot be substantiated by the individual's legal income and is deemed to have illegal origins. The funds have been transferred to a bona fide purchaser or cannot be identified and seized, based on the legal regulation of Article 20, Part 4 of the Law on Seizure of Property with Illegal Origin.

Additionally, 135,297 drams are claimed as the remainder of illegal income.