Alvard Movsesyan, wife of former Armenian Deputy Finance Minister Artur Afrikyan, has recently sold nine properties, with a market value of US$4 million, in Dubai.
Armenia’s Investigative Committee has launched criminal proceedings based on an April 17 Hetq article revealing that four former high-ranking Armenian officials and their relatives failed to declare their expensive properties in Dubai.
Armenian oligarchs, politicians, and various government officials have made Dubai their home away from home.
Armenia’s Special Investigation Service (SIS) has recently charged former Prosperous Armenia Party (BHK) MP Hrant Davtyan and his son Arsen Davtyan for failing to declare a sizeable amount of property they own in Armenia.
On February 12, law enforcement in Armenia launched a criminal case based on a March 2019 Hetq investigation looking into the luxury real estate holdings in Dubai of Armenian government officials.
Armenian government officials and businesspeople have flocked to Dubai in recent years, following rich people from around the world who have bought property in the Emirati desert city known as a haven for tax evasion and money laundering.