Business tycoon and former MP Gagik Tsarukyan is currently under investigation by the Stolen Asset Recovery division of the General Prosecutor’s Office.

According to a statement released by the Prosecutor General’s Office, an investigation was initiated in 2020 to examine suspected illegally obtained assets owned by Tsarukyan.

The prosecutor reported that Tsarukyan and individuals associated with him have been unable to provide any evidence substantiating that the assets in question were legally acquired.

In October 2023, the prosecutor’s office took legal action by submitting a motion to the Anti-Corruption Court, requesting the forfeiture of various assets allegedly acquired illegally by Tsarukyan. These assets include 79 units of real estate, 42 cars, an expenditure of over 340 million drams on eight unspecified vehicles, the market value of 10 other real estate properties, shares in 39 companies, the right to claim 63 billion drams in transactions, an additional transfer of 16.8 billion drams to 12 unidentified individuals and companies, and 86 billion 400 million drams in alleged illegal revenue.