ArmInfo. The Anti-Corruption Court of Armenia has granted the petition of the Prosecutor General's Office of Armenia to transfer Araratcement CJSC, owned by businessman Gagik Tsarukyan, leader of the Prosperous Armenia Party, to the management and custody of the Republic of Armenia as an interim measure in the case of "confiscation of property of illegal origin." This was reported by the press service of the Prosecutor General's Office of Armenia.
The statement states that on July 13, 2026, the Prosecutor General's Office filed a petition with the Anti- Corruption Court for an interim measure requiring the transfer of the management and custody of Araratcement CJSC shares to the state. By a court decision dated July 15, 2026, the petition was granted.
The Prosecutor's Office recalled that on October 9, 2023, the Prosecutor General's Office filed a lawsuit against Gagik Tsarukyan and persons associated with him for the confiscation of property "of illegal origin." Among the assets subject to seizure in favor of the state, the Prosecutor's Office listed shares of Ararat Cement CJSC.
As part of the same lawsuit, the Prosecutor General's Office is demanding the confiscation of 75 real estate properties and the market value of 10 more (57 of which are located in Yerevan), 42 vehicles, and equity stakes in 38 legal entities, including Multi Group Concern LLC, Multi Autotrans LLC, Onira Club LLC, and other companies. Additionally, the Prosecutor General's Office is demanding the confiscation of 105,865,865,000 drams, including the balance and expenses of the alleged illegal income, issued loans, assigned claims, and the market value of five vehicles.
The trial of the Prosecutor General's Office's claim for the confiscation of Gagik Tsarukyan's property has been ongoing since 2023 under the Armenian Law "On Confiscation of Property of Illegal Origin." A new stage in the case began on July 3, 2026, when law enforcement officials conducted investigative actions on the premises of the Ararat Cement plant, after which the plant effectively ceased operations.
Plant management stated that the production facilities were sealed, and accounting and product shipments were blocked. On July 9, workers staged a protest, demanding the plant's reopening. Several hours later, law enforcement officials cleared the way for the plant to resume operations.
