Prosecutors seek to invalidate property deals involving Tsarukyan

The Prosecutor’s Office has filed two lawsuits seeking to invalidate several land auctions and real estate transactions involving Prosperous Armenia Party leader and businessman Gagik Tsarukyan and people linked to him, the Prosecutor’s Office said.

In the first lawsuit, the Prosecutor’s Office sought to invalidate the auction held on October 4, 2015, for a 3.5-hectare plot of land belonging to Firma New LLC in Arinj village, Abovyan community, Kotayk Province. The land was included in the list of restrictions under Article 60 of the Land Code and was not subject to alienation. The Prosecutor’s Office also sought to invalidate the October 2, 2025 agreement between Gagik Tsarukyan and Firma New LLC on contributing the real estate to the company’s charter capital as a non-monetary contribution.

By an August 19, 2026 decision, the Anti-Corruption Court accepted the lawsuit for proceedings.

On the same day, the court granted the Prosecutor’s Office’s motion for an interim measure, prohibiting Firma New LLC from taking any action concerning the 3.5-hectare plot of land located in Arinj village, Abovyan community, Kotayk Province.

In the second lawsuit, the Prosecutor’s Office sought to invalidate the January 26, 2003 auction of a 14.176-hectare plot of land in Arinj village, Kotayk Province, concerning the land on which Gagik and Javahir Tsarukyan’s private residence is located. It also sought to invalidate the February 15, 2003 real estate sale agreement between Aramik Sedrakyan, Gayane Sedrakyan and Gagik Tsarukyan concerning a 12.566-hectare property, as well as the March 14, 2013 real estate sale agreement between Aramik Sedrakyan and Gagik Tsarukyan concerning a 1.61-hectare property, with the legal consequences of invalidity applied.

By an August 19, 2026 decision, the Anti-Corruption Court also accepted this lawsuit for proceedings.

On the same day, the court granted the Prosecutor’s Office’s motion for an interim measure, prohibiting Gagik Tsarukyan and his wife, Javahir Tsarukyan, from taking any action concerning the 12.566-hectare and 1.61-hectare properties located at the aforementioned addresses.

Business magnate Gagik Tsarukyan has been held in pre-trial detention since early July this year on charges of fraud and money laundering. He denies wrongdoing.