Prosecutor Demands $10.5 Million from Serzh Sargsyan

YEREVAN — On Wednesday, at the court hearing in the case of Armenia’s third president, Serzh Sargsyan, the prosecutor filed a property claim against the former president and other defendants.

The prosecution requested that they be recognized as financially liable and demanded that approximately $10.5 million be confiscated from Sargsyan in favor of the state.

According to the indictment, the case involves a transaction that took place 20 years ago when Sargsyan was serving as Minister of Defense. The prosecution claims that a plot of land along Yerevan’s Isakov Avenue, near the Yerablur Military Pantheon, was sold at a price below market value.

The prosecutor alleges that Sargsyan arranged this sale in order to transfer the land to “Toyota-Yerevan.” Thirty percent of this company belongs to Sedrak Kocharyan, the son of Armenia’s second president, Robert Kocharyan.