On Thursday, the US authorities sought forfeiture of a Holmby Hills mega-mansion, alleging the residence was purchased with bribes paid by an Armenian businessman to the household of a onetime excessive rating public official within the former Soviet republic. The Division of Justice contends it was the household of Gagik Khachatryan that obtained the bribes. Khachatryan, generally known as the “Tremendous Minister,” served as chairman of the State Income Committee of the Republic of Armenia from 2008 to 2014 after which as minister of finance from 2014 to 2016. Filed in federal court docket in Los Angeles on Monday, the DOJ’s grievance alleges that businessman Sedrak Arustamyan paid 66-year-old Khachatryan and his household greater than $20 million in bribes in alternate for favorable tax therapy of his companies. The bribe cash was allegedly used to purchase the Holmby Hills property on South Mapleton Drive. The property had just lately been listed on the market for greater than $63 million. In Armenia, Khachatryan and his sons have been charged with receiving bribes in violation of the nation’s prison code. Based on the DOJ, prison prices are additionally pending towards Arustamyan in Armenia for paying bribes.
Forfeiture of the mega-mansion is being sought beneath the Kleptocracy Asset Restoration Initiative, a program geared toward seizing proceeds of overseas official corruption and, the place acceptable, utilizing the recovered belongings to learn these harmed by the violators.
