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Vahe Sarukhanyan

Family of Ex-Armenian Finance Minister to Sell L.A. Mansion Threatened with Seizure

The sons of Gagik Khachatryan, a former top Armenian government official, have reached a preliminary deal to sell their multi-million-dollar mansion in Los Angeles that the U.S. Justice Department wants to seize based on allegations it was purchased with bribes paid to their father.

On May 5, 2022, the U.S. Justice Department wrote:

“Gagik Khachatryan, 66, who was known as the “Super Minister,” because of his significant responsibilities, served as Chairman of the State Revenue Committee of the Republic of Armenia from 2008 to 2014 and as Minister of Finance for the Republic of Armenia from 2014 to 2016. In the complaint, which was filed Monday in U.S. District Court for the Central District of California, the United States alleges that businessman Sedrak Arustamyan paid Khachatryan and his family more than $20 million in bribes in exchange for favorable tax treatment of his businesses. The bribe payments allegedly were used to purchase the Holmby Hills property, which had been recently listed for sale for $63,500,000.”

On May 4, two days after the complaint was filed, U.S. prosecutors filed a notice in the Los Angeles County Clerk's Office of California that there is a lawsuit against the property for sale, warning potential buyers that they risk losing the property if it is seized.

Gagik Khachatryan and his sons are charged in Armenia with receiving bribes in violation of the criminal code of the Republic of Armenia. Criminal charges are also pending in Armenia against Arustamyan for paying bribes.

Real estate brokers Hilton and Hyland are managing the sale and the property is no longer listed on the agency’s website.

Other real estate sites list the property as “under contract” or “pending”.

Whether the mansion’s sale goes through, and who the buyer is, remains to be seen.

(See: U. S. Justice Department Seeks Seizure of Los Angeles Mansion Purchased with Bribes Linked to Former Armenian “Super Minister”)


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