On January 23, Armenia’s Anti-Corruption Court invalidated a land sale agreement between former President Serzh Sargsyan and a private individual, ordering the transfer of $786,000 worth of funds to the state budget.

The Prosecutor General’s Office had petitioned the court to annul the 2005 contract, which involved the sale of a 1.4514-hectare land parcel on Admiral Isakov Avenue in Yerevan’s Malatia-Sebastia district. The land deal had been signed on December 17, 2005, when Sargsyan was serving as Minister of Defense.

The court upheld the prosecutor’s claim, declaring the contract null and void. As a result, the private party involved in the transaction must pay 297.98 million AMD, the equivalent of $786,000, into the state treasury.