“Former Armenian Regional Governor Karen Sargsyan’s Mysterious Wealth and Controversial Car Incident Revealed”
The newspaper “Zhoghovurd” reported that on September 8, 2021, Karen Sargsyan, the regional governor of Gegharkunik Province, marked the start of construction of a new housing complex in the Jrarzher community of Kotayk Province in 2023. The housing complex is valued at 12 million 500 thousand drams, which is approximately 32 thousand US dollars.
As a former regional governor in Armenia, Sargsyan was able to acquire a housing complex worth 12.5 million drams over a three-year period. He utilized the benefits and connections associated with his position to make this purchase. The specific details of how he achieved this will be clarified later.
In addition to the new housing complex, Sargsyan also mentioned that he owns a residential apartment in a building complex in Russia. He has resided in this apartment since 2013 and currently manages the residential apartment of a bank official in Moscow. He has been able to take advantage of the opportunities and connections that come with his regional governorship to maintain this arrangement.
Sargsyan’s bank accounts have a balance of 1 million 126 thousand drams, and he possesses 4 million 500 thousand drams in cash. Over the course of his three years as regional governor, he acquired an income of 16 million 976 thousand drams. He also received a gift of 700 thousand rubles last year, equivalent to 3 million dollars or more.
Since 2016, Karen Sargsyan has been receiving a salary of 13 million 952 thousand drams from his work at the Gegharkunik Provincial Government. A complete overview of his funds, income, expenses, and assets for 2023 will be available after December 31, as stated in the financial statements.
Regarding an incident on July 25, 2022, an automobile accident involving Karen Sargsyan’s Mercedes car and a Volkswagen car took place on the Yerevan-Sevan highway in Kotayk Province. Fortunately, no injuries were reported, and it was confirmed that Sargsyan was sober at the time of the accident.
For more detailed information, please refer to today’s issue of the newspaper.
