Armenia’s Anti-Corruption Court today ordered the transfer of the Yerevan Ararat Brandy-Wine-Vodka Factory (producer of Noy brand), owned by tycoon and opposition politician Gagik Tsarukyan, to state management and ownership following a high-profile criminal investigation, raids, and the detention of the factory director, Arman Davtyan.

The court ruled to place the historic brandy plant under state maintenance and control, mirroring actions taken against other properties in Tsarukyan's Multi Group holding.

On October 9, 2023, Armenia’s Prosecutor General's Office filed a claim with the Anti-Corruption Court against Gagik Tsarukyan and his associates for the confiscation of property of illegal origin.

On July 6, 2026, businessman and chairman of the Prosperous Armenia Party (PAP), Gagik Tsarukyan, was arrested. The arrest was preceded by hours-long searches of Tsarukyan’s private residence and more than seventy addresses associated with him.

On July 7, the Yerevan Court of First Instance of General Jurisdiction ruled to detain Tsarukyan for two months. He is accused of largescale fraud and money laundering.

Armenia’s Investigative Committee (IC) claims that Tsarukyan and several Iranian businessmen jointly established companies and legal entities. They then imported fifty-two vehicles, equipment, fuel, and various other items goods from Iran to Armenia.