A January 17 Hetq article revealing that a high-ranking general of the Armenian Armed Forces flipped a piece of Yerevan real estate for a staggering million-dollar profit has led to a criminal case.

Poghos Poghosyan, now serving as an assistant to the Head of the Armenian Armed Forces General Staff, purchased a plot of land allocated to the Ministry of Defense years ago in Yerevan’s Nork Nork district where developers now plan to build a twenty-story apartment building.

Poghosyan purchased the land from the ministry in 2013 for 25 million drams (US$62,500). He then transferred the land to his mother-in-law’s name after the 2020 Artsakh war. Last September, the family sold it for 420 million drams ($1.040 million) to a friend of the son of MP Ishkhan Zakaryan.

Poghosyan now faces charges of “Abuse of Official or Service Powers, or the Influence Conditioned Thereof by an Official or Exceeding Powers – Criminal Code. Article 441.)

Photo (from left): Poghos Poghosyan, Ishkhan Zakaryan