Yerevan Ararat Factory Owned by Tsarukyan Handed Over to State Management

In the context of the seizure of property of illegal origin, based on a motion from the Prosecutor General's Office, the shares of the Yerevan Ararat Brandy-Wine-Vodka Factory LLC have been handed over to the management and preservation of the Republic of Armenia by a decision of the Anti-Corruption Court.

It should be noted that on October 9, 2023, the Prosecutor General’s Office filed a lawsuit with the Anti-Corruption Court against Gagik Kolyay Tsarukyan and related individuals regarding the demand for the confiscation of property of illegal origin. Among other properties claimed as of illegal origin was the request to confiscate the shares of the Yerevan Ararat Brandy-Wine-Vodka Factory, owned by Gagik Tsarukyan, in favor of the Republic of Armenia.

In the seizure of property of illegal origin case, on July 29, 2026, the Prosecutor General’s Office submitted a motion to the Anti-Corruption Court for the application of interim measures regarding the management and preservation of the shares of the Yerevan Ararat Brandy-Wine-Vodka Factory.

By a ruling dated July 30, 2026, the court approved the motion, and the management and preservation of the shares of the Yerevan Ararat Brandy-Wine-Vodka Factory has been transferred to the Republic of Armenia, represented by the Ministry of Economy.

Additionally, the Prosecutor General’s Office is demanding the confiscation of the following from Gagik Kolyay Tsarukyan and related persons:

• 75 real estate properties, which include 52 apartments in the Nor Nork district, 5 apartments on Abovyan street, 11 apartments in Kotayk province, and other real estate;
• 10 properties with market value;
• 42 vehicles;
• 38 shares in legal entities, including Multi Group Concern LLC, Multi Auto Trans LLC, Onira Club LLC, and other legal entities;
• A monetary claim amounting to 105 billion 865 million 865 thousand drams.

It is also recalled that in the context of the seizure of property of illegal origin case, on July 13, 2026, the Prosecutor General's Office submitted another motion to the Anti-Corruption Court regarding the management and preservation of the shares of Ararat Cement CJSC. By a decision dated July 15, 2026, the presented motion was approved, and the management and preservation of the shares of Ararat Cement CJSC have also been handed over to the Republic of Armenia.