Armenian prosecutors investigate illegal sale of Van Lake Paradise complex

The Military Central Prosecutor's Office has identified violations in the transfer of the ‘Van Lake Paradise’ restaurant complex and an adjacent 2.56-hectare land plot located in the Kasakh recreation area of the Ashtarak community, Aragatsotn region.

Investigations revealed that, based on a report from the Minister of Defense, state-owned buildings and structures were sold directly to a physical person for $500,000 without the required property valuation process. This sale occurred despite the property being valued at $500,000 in 1997, and its liquidation value being set at $700,000 in 2005 following expansions and improvements.

Furthermore, a lease right for the 2.56-hectare plot was registered to an individual without legal or contractual grounds, which subsequently served as the basis for the individual to acquire private ownership of the land, valued at over 115 million AMD. A criminal case has been initiated, and a lawsuit to protect state interests has been filed in court.