Hayk Harutyunyan, appointed Armenia’s Deputy Minister of Energy and Natural Resources in 2014, may be only thirty years old but he is wealthy enough to have given out 105 million AMD (US$221,000) in loans.

His 2014 disclosure for revenue was much more modest - 42 million AMD.

Harutyunyan has close family ties with those in government.

He is the son of National Security Service head Arzuman Harutyunyan and the nephew of Constitutional Court president Gagik Harutyunyan.

Harutyunyan is a son-in-law of Karen Karapetyan, Armenia’s new prime minister.

34-year-old Vardan Gevorgyan, another energy deputy minister, was appointed this past April. From 2012-2016, he headed the Chamber of Control’s First Department. 

Upon becoming deputy minister, Gevorgyan owned four apartments and garages.

He had bank deposits of 3.1 million AMD, $7,000, and 2,500 Euros.

Unlike Harutyunyan’s experience in the private sector, Gevorgyan has served in government for most of his professional career.

Photo (from left); Harutyunyan, Gevorgyan