US may transfer funds from sale of confiscated property of ex-Minister Khachatryan to Armenia

The US authorities may transfer to the Armenian government funds received from the sale of the mansion of former Armenian Finance Minister Gagik Khachatryan in Los Angeles, Report informs referring to Armenian media.

As part of cooperation between the Prosecutor General's Office and the competent authorities of the US in a criminal case initiated in Armenia, the Khachatryan family mansion in Los Angeles, which, according to a decision of the American court, is considered property of criminal origin, will be confiscated and sold at the highest market value.

Negotiations are underway on the issue of returning to Armenia most of the funds received as a result of the sale of the mansion.

In a criminal case initiated in the investigative department of the National Security Service of Armenia, Gagik Khachatryan is accused of abuse of power and committing thefts on an especially large scale.

In addition to criminal proceedings, as part of claims for confiscation of property of illegal origin, considered in the Anti-Corruption Court, the former Minister of Finance of Armenia Gagik Khachatryan and 25 persons associated with him, including the sons Gurgen and Artem Khachatryan, it is required to confiscate 210 real estate properties, 13 vehicles, shares in 29 legal entities, as well as more than 33 billion drams (about $80 million).