Armenia’s Prosecutor General’s Office says more than $15 million worth of property and funds has already been confiscated in cases involving assets of illicit origin, according to a report cited by RFE/RL.
The office said 11 settlement agreements have been concluded since the Law on Confiscation of Property of Illicit Origin was adopted. Under those agreements, eight immovable properties and two movable assets have been transferred to Armenia.
The total value of the settlements, including both property and cash, stands at 5,552,009,134 drams, or more than $15 million, the Prosecutor General’s Office said.
Figures published in March by Prosecutor General Anna Vardapetyan showed that courts are currently considering 166 claims. Their combined value amounts to about 612.592 billion drams, or more than $1.5 billion.
Earlier the same day, the Justice Ministry said amendments to the Law on Confiscation of Property of Illicit Origin are expected in the near future. The proposed changes include removing the provision on settlement agreements from the law.
Prime Minister Nikol Pashinyan had previously said the same provision should be scrapped, noting that he had instructed officials to abolish that regulation.
