Prosecutors target Multi Group assets at Lake Sevan

PanARMENIAN.Net - Armenia's Anti-Corruption Court has accepted for consideration a lawsuit filed by the Prosecutor General's Office against Beglu CJSC, the State Property Management Committee, businessman Gagik Tsarukyan, Multi Group Concern LLC and Sevan National Park SNCO, seeking to invalidate a contract signed on November 29, 1996.

The Prosecutor General's Office is also seeking the return to state ownership of a 0.29114-hectare land plot currently held by Multi Group Concern LLC, along with the buildings and structures located on the site, including residential houses with a total area of 425.12 square meters, a 23.04-square-meter boathouse and a 100.8-square-meter wall.

As a consequence of these claims, the Prosecutor General's Office is seeking to invalidate:

• The state registration of rights based on the contract covering a 1.21-hectare land plot and wooden cottage No. 7 with an area of 60 square meters.
• The real estate sale agreement concluded on September 8, 2000, between Beglu CJSC and Gagik Tsarukyan.
• The agreement of January 12, 2001, amending the above-mentioned sale contract.
• The lease agreement concluded on November 25, 2025, between Sevan National Park SNCO and Multi Group Concern LLC, registered under No. 4462, as well as the state registration of rights carried out on November 28, 2025.

The Anti-Corruption Court also granted the Prosecutor General's Office's request for interim measures. Under the court's ruling, the defendants are prohibited from taking any actions that could result in a change of ownership of the disputed properties or alter their actual condition.