Manager of Yerevan Ararat Brandy-Wine-Vodka Factory Appointed
03.08.2026,
17:15
Garik Boshyan has been appointed manager of the Yerevan Ararat Brandy-Wine-Vodka Factory OJSC, Acting Minister of Economy of Armenia Gevorg Papoyan announced.
YEREVAN, August 3. /ARKA/. Garik Boshyan has been appointed manager of the Yerevan Ararat Brandy-Wine-Vodka Factory OJSC, Acting Minister of Economy of Armenia Gevorg Papoyan announced.
He also recalled that, based on a petition from the Prosecutor General's Office and a decision by the Anti-Corruption Court, the company's shares were transferred to the management and custody of the Republic of Armenia, represented by the Ministry of Economy.
The Prosecutor General's Office previously reported that this decision was made on July 30, 2026, as part of proceedings regarding the confiscation of property allegedly of illegal origin.
About the Factory
According to the Prosecutor General's Office, a lawsuit was filed on October 9, 2023, against Gagik Tsarukyan and persons associated with him, demanding "the confiscation of property of illegal origin." Among other things, the Prosecutor General's Office is demanding the transfer of Tsarukyan's shares in the Yerevan Brandy-Wine-Vodka Factory to the state.
As part of the same lawsuit, the Prosecutor General's Office is demanding the confiscation of 75 real estate properties, the market value of another 10 properties, 42 vehicles, and shares in 38 legal entities. The total amount of the stated monetary claims is 105,865,865,000 drams.
Earlier, on July 15, the Anti-Corruption Court granted another motion by the Prosecutor General's Office, transferring the management and custody of Ararat Cement CJSC shares to the state.
About Tsarukyan's criminal case
Gagik Tsarukyan, owner of Multi Group holding and leader of the Prosperous Armenia Party, has been in custody since July 7. He is charged with large-scale fraud and money laundering; large-scale tax evasion; and illegal hunting. The defense denies the charges; the court has not established Tsarukyan's guilt in these cases.
He also recalled that, based on a petition from the Prosecutor General's Office and a decision by the Anti-Corruption Court, the company's shares were transferred to the management and custody of the Republic of Armenia, represented by the Ministry of Economy.
The Prosecutor General's Office previously reported that this decision was made on July 30, 2026, as part of proceedings regarding the confiscation of property allegedly of illegal origin.
About the Factory
According to the Prosecutor General's Office, a lawsuit was filed on October 9, 2023, against Gagik Tsarukyan and persons associated with him, demanding "the confiscation of property of illegal origin." Among other things, the Prosecutor General's Office is demanding the transfer of Tsarukyan's shares in the Yerevan Brandy-Wine-Vodka Factory to the state.
As part of the same lawsuit, the Prosecutor General's Office is demanding the confiscation of 75 real estate properties, the market value of another 10 properties, 42 vehicles, and shares in 38 legal entities. The total amount of the stated monetary claims is 105,865,865,000 drams.
Earlier, on July 15, the Anti-Corruption Court granted another motion by the Prosecutor General's Office, transferring the management and custody of Ararat Cement CJSC shares to the state.
About Tsarukyan's criminal case
Gagik Tsarukyan, owner of Multi Group holding and leader of the Prosperous Armenia Party, has been in custody since July 7. He is charged with large-scale fraud and money laundering; large-scale tax evasion; and illegal hunting. The defense denies the charges; the court has not established Tsarukyan's guilt in these cases.
