A FAMILY AFFAIR: BUSINESS INTERESTS OF PRESIDENT OF ARMENIA’S NATIONAL ASSEMBLY
Grisha Balasanyan
12:32, February 24, 2015
While Armenia’s National Assembly President Galust Sahakyan has
consistently declared that he isn’t engaged in business, he has
conveniently hidden the fact that his wife and sons (also in
government) are.
It would be the apex of naiveté to believe that Sahakyan lives merely
off his government salary or that his family members, due to sheer
due diligence alone and without abusing their personal contacts in
government, have become owners of various companies.
Ever since 2011, Sahakyan (who was appointed speaker of the parliament
in April 2014, has only listed as revenue his government wages and
pensions when filling out the financial disclosure forms he’s mandated
to file.
Combined, these have hovered around 3.6 million AMD annually
(US$7,500).
Galust Sahakyan’s wife Zhanna Aghababyan has also declared her
dividends in addition to her cash holdings. Most of her revenues are
derived from dividends and the rest from wages and pensions.
Zhanna Aghababyan – Financial Disclosures
2011
2012
2013
Cash holdings
AMD
29,530,000
60,785,765
75,785,765
USD
0
0
0
Revenues (AMD)
31,961,036
31,255,765
30,488,000
Of which dividends amount to:
30,660,000
29,606,400
28,500,000
Hetq contacted the National Assembly’s Press and Public Affairs
Department to find out what companies are the sources of these
dividends. The department replied that the parliament isn’t privy to
such information.
Naturally, Galust Sahakyan knows the companies issuing dividends to
his wife. It’s another question whether it’s in his best interest to
divulge their names.
The Business of Zhanna Aghababyan and the Family of the Deputy Minister
of Health
Aroghj Apaga Bzhshkakan Kentron Ltd. (Healthy Future Medical Center)
was established in 2006. Zhanna Aghababyan and Lilit Gasparyan own 50%
apiece. Gasparyan is the director of the Vagharshabat Polyclinic and
the wife of Deputy Health Minister Vahan Poghosyan. The company is
managed by Vahan Poghosyan’s son Edgar.
The corporate address is registered in Etchmiadzin.
Medipriz Ltd., established in 2006, is equally owned by two
shareholders – Zhanna Harutyunyan and Vahram Harutyunyan. In fact,
Zhanna Harutyunyan is none other than Hovik Abrahamyan’s wife Zhanna
Aghababyan. (For some inexplicable reason her last name appears as
Harutyunyan in the state corporate registry). She also serves as
company director.
Zhanna Aghababyan and Sons
There isn’t much information regarding the business activities of
the parliament speaker’s wife and two sons.
What we do know is that a company called J.D.A.S. Ltd. is registered
to Zhanna Aghababyan (34%) and her son Tigran Sahakyan (66%). Tigran
serves as a Deputy Minister of Health.
Taking a look at Tigran Sahakyan’s financial disclosures, we are
struck by his large cash holdings and the fact that rental fees make
up the bulk of his revenues.
Tigran Sahakyan’s Financial Disclosures
2011
2012
2013
Cash holdings
AMD
43,740,000
84,445,517
85,831,617
USD
0
0
0
Revenues (AMD)
29,728,202
51,033,548
7,386,100
Of which rents amount to:
26,917,710
48,600,000
4,929,750
Hayr yev vordi Sahakyanner CJSC, established in 2009, is another
company owned by the Sahakyan family.
NAREK 84 Ltd., of which 50% is owned by Galust Sahakyan’s son Tigran,
is involved in the trade of textiles, foodstuffs, shoes, clothes and
construction materials.
Transportation routes owned by the Sahakyans and their close friends
Bus route 57 in Yerevan is serviced by Ardini Studio CJSC which owned
by Galust Sahakyan’s son Arman Sahakyan, who heads the State Property
Management Department.
Arman Sahakyan also owns a 50% stake in SA-GHA TRANS, a company that
operates the #64 minivan route in Yerevan.
We see from his financial disclosures below that Arman Sahakyan only
started to list dividends from these companies in 2013. Prior to that,
most of his declared revenues derived from property rentals.
Arman Sahakyan’s Financial Disclosures
2011Õ©.
2012Õ©.
2013Õ©.
Cash holdings
AMD
95,000,000
101,500,000
144,000,000
USD
0
0
0
Revenues (AMD)
24,394,409
25,926,253
23,098,775
Of which rents amount to:
22,200,000
16,650,000
20,682,268 (dividends)
Arman Sahakyan also owned 45% in a company called Rich Friends Ltd.
which sells cigarettes in the CIS. He sold his shares in 2013.
From: Emil Lazarian | Ararat NewsPress