Economy minister appoints administrator at brandy company transferred to state management from Tsarukyan

Armenia’s Minister of Economy Gevorg Papoyan has appointed Garik Boshyan as administrator of the Yerevan Ararat Brandy-Wine-Vodka Factory, a company which was up until recently owned by jailed businessman and Prosperous Armenia Party leader Gagik Tsarukyan.

Papoyan said on social media that, based on a motion submitted by the Prosecutor General’s Office and a decision by the Anti-Corruption Court, the company’s shares had been transferred to the management and custody of the state, represented by the Ministry of Economy.

Tsarukyan is currently in pre-trial detention on charges of large-scale fraud and money laundering.