The Los Angeles affiliate of U.S. CBS News yesterday reported that the U.S. Department of Justice is seizing a Los Angeles mega-mansion allegedly purchased with bribes paid by an Armenian businessman to the family of Gagik Khachatryan, a former high-ranking Armenian public official.

Khachatryan served as Chairman of the State Revenue Committee of Armenia from 2008 to 2014 and as Minister of Finance from 2014 to 2016. 

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

In August 2019, Armenian law enforcement agents searched the residences of Gagik Khachatryan, and several persons affiliated with him.

Afterwards, Gagik Khachatryan and Karen Khachatryan (a former high-ranking official of the State Revenue Committee and Gagik’s nephew) were arrested on suspicion of large-scale embezzlement and abuse of official power. In October 2020, Gagik Khachatryan was released on bail for health reasons.

In 2022, Khachatryan’s sons reached a preliminary deal to sell the mansion that the U.S. Justice Department wanted to seize.

KCAL News reports the U.S. government will sell it off for the "highest obtainable market price" and keep 85% of net profits made from the house's sale, according to a news release from the U.S. Department of Justice.

U.S. prosecutors estimated the mansion’s worth at $63.5 million in 2022.

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