Friday, 21 September

$3.5 Million, 1.4 Million Euros: The Cash Holdings of MP Samvel Aleksanyan's Cousin

Artour Petrosyan is the Deputy Director of the Lous Astgh Sugar Company, colloquially known as the Akhouryan sugar plant.

Petrosyan is listed in the Republican Party’s proportional ballot for the May 5 Yerevan municipal elections (44th spot).

The fact that his cousin is MP Samvel Aleksanyan (Republican Party) has only propelled Petrosyan’s political ambitions.

As a municipal council candidate, Petrosyan has filed a financial disclosure statement.

If he is to be believed, Petrosyan claims a mere 1.1 million AMD in revenues from the period January 1, 2012 to January 1, 2013. All of it was in the form of the wages he’s received as the sugar plant deputy director.

That works out to 92,000 per month. Nevertheless, Petrosyan owns 34 fixed properties – houses, land, apartments, garages, kiosks, etc.

Some of these properties are located on Yerevan’s “fashionable” Northern Avenue.

As of March 1, Petrosyan had 350 million AMD, $3.5 million and 1.4 million Euros in various banks.

It can’t be rules out that some of Petrosyan’s assets actually belong to his cousin Samvel Aleksanyan and that they’ve merely been registered in his name for tax and other purposes.

Otherwise, how can a man who only claims 92,000 AMD in monthly revenue have so much property and cash?




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