20 February, 2019 10:23

Serzh Sargsyan's Brother Transfers $18.5 Million to the State

Former President Serzh Sargsyan's brother, Alexander Sargsyan (known as Sashik Sargsyan), has voluntarily transferred 18.5 million USD to the state budget, according to the Prime Minister's Office.

CivilNet sent an inquiry to the Armenian government to find out how many pledges of donations, property, money, etc. had been made to the Republic of Armenia since May 2018, by whom and how many of those pledges had already been fulfilled.

"During the various criminal cases and investigative actions against Alexander Sargsyan, the latter voluntarily transferred a sum equivalent of 18.5 million USD to the state," the government response reads.

According to the decision of the Armenia’s National Security Service, the arrest on Alexander Sargsyan's property was made on July 9, 2018.

On September 11, 2018, Prime Minister Nikol Pashinyan talked about the property of Alexander Sargsyan at a rally during Yerevan’s municipal elections campaign.  https://www.youtube.com/watch?v=fhB7tufafX8

"Serzh Sargsyan's brother, Sashik Sargsyan has 30 million USD in just one of Armenia’s banks, and all the money is under arrest. I demand that Sashik Sargsyan be under public obligation to withdraw that 30 million USD in a week and voluntarily return it to the state budget," Pashinyan said.

In response to this statement, Alexander Sargsyan accused Pashinyan of publishing bank secrecy. Sargsyan said that his funds were legal and he urged Pashinyan to call on law enforcement to "release the money belonging to him and his family."


Hereafter, CivilNet will report on how much money has been recovered to the state budget since May 2018, as a result of the fight against corruption and shadow economy.

Zara Poghosyan

Read the article in Armenian