It goes without saying that many Armenian officials do not declare their full financial assets.
Even when their financial disclosures declare millions in “other income”, there seems to be no state audit agency with the political will to dig deeper in an attempt to reveal those mysterious sources of income.
Even assuming that officials do not disclose their true assets, Prosperous Armenia Party (BHK) MP Gourgen Arsenyan still tops the list of wealthy parliamentarians.
Last year, he spent 90 million AMD ($183,000) to buy ten paintings. That same year, Arsenyan purchased a Mercedes Benz for 95 million AMD and two parcels of land for 33 million AMD.
In 2015, he declared 1.831billion AMD ($3.7 million) in revenue. His annual salary as an MP only amounted to 6 million AMD.
According to Arsenyan’s financial disclosure the bulk of his revenues came from dividends, payments on loans, and rent.
His revenues were even greater in 2014 – 2.335 billion AMD. This is nearly quadruple the 613 million AMD he declared in 2013.
In 2015, Arsenyan declared cash holdings of 24.5 million AMD, US$1.351, and 23,276 Euros.