August 2, 2026
On July 31, the Prosecutor’s Office reported that “within the framework of the confiscation of property of illegal origin, based on the petition of the General Prosecutor’s Office, the shares of the company “Yerevan “Ararat” Cognac-Wine-Vodka Combine” BB company owned by businessman Gagik Tsarukyan, by the decision of the Anti-Corruption Court surrendered to the administration and preservation of the Republic of Armenia”.
After Gagik Tsarukyan was detained for two months, the management and custody of the shares of the “Araratcement” PB company belonging to his family was also handed over to the RA government. They have already appointed a temporary manager there, who is the former assistant of Nikol Pashinyan, Davit Gevorgyan.
Belonging to Gagik Tsarukyan’s family “Multi Wellness” Yerevan Municipality also took over the gym.
Economist Hrayr Kamendatyan speaking about these actions of the authorities towards business, he said, in Armenia, major investments go to the mining industry. Investments in mining come with shady deals, so those investors don’t care if they’re depriving someone in that country or not.
“Foreign investors go to the given country with special treatment, they have a huge profit volume, which is used by some of the state officials of the given country.
No capitalist can stand up and defend the law for another capitalist or for reasons of justice. Small investments that are made, for example, in a small kiosk or building, we can not discuss in general, they are not big investments.
This whole mess related to Gagik Tsarukyan’s property has an absolutely political nature, the government does not even hide this. There is one, isn’t there, wearing the hat of Latin American dictators, he clearly said: “I will make Gagik Tsarukyan a bum”, I will do this, I will do that”, I don’t want to repeat his vocabulary. Now he is trying to go that way.” of 168.am said Hrayr Kamendatyan in a conversation with
According to him, Nikol Pashinyan is trying to please some lumpen masses by depriving Gagik Tsarukyan. It is obvious that he rigged the elections and lacks legitimacy, so he is trying to fill that lack by satisfying the feelings of the lumpen massa.
Nikol Pashinyan wants to show that mass that, look, I knocked the rich man to the ground, tied his hands and feet. All this is shameless, but they should remember that nothing is eternal, and I am sure that this illegal process, political direction will get its answer after the change of power.
This cynicism and provincial revenge will be the basis for the prosecution of the head of the Criminal Investigation Department, the General Prosecutor, and all the prosecutors involved in these cases. After those trials, they will be dispossessed, because they will have to answer for this parade of illegalities with their property,” added the economist.
Hrayr Kamendatyan also emphasized that, of course, this illegal behavior of the authorities with business can cause concerns for people who want to establish a certain business in Armenia, but when the capital has a 10 percent income, it starts to become active, at 20, it becomes daring, at 100, it is ready for any crime.
“Today, many people do not notice that the economic situation is getting worse. The current authorities thought that along with the worsening of the economic situation, the budget revenues will decrease, they will also be cut at some point. They imagine a dictatorial solution: they will confiscate the economic units and recognize them as a superior interest. Then they will sell in a shadowy way, this sale can be among themselves, to already formed capitalist groups, they will also try to sell to the public, making the public a “stakeholder” in these crimes, in order to somehow fill the budget.
All this is condemned, because the analyzes have been done, the budget revenues will decrease, and the government will sit on the seat of impotence,” emphasized Hrayr Kamendatyan.
Let’s remind that PAP leader Gagik Tsarukyan was detained for two months on July 7, according to the report circulated by the Central Committee, on charges of large-scale fraud and money laundering.
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