Anti-Corruption National Initiative
ANTI-CORRUPTIONNATIONALINITIATIVE

Hetq: Alen Simonyan’s Son’s Bankrupt Godfather Is a Co-Owner of a $40 Million Complex

According to a publication by “Hetq,” a major investment project is being carried out in Tsaghkadzor involving the construction of a multifunctional complex worth $40–50 million, the launch of which took place after the 2021 elections.

Various well-known businessmen and former officials are involved in the project, including Robert Galustyan, Karen Davtyan, and Levan Chikovani.

The individuals involved in the project are connected not only through business, but also through political and personal ties: Robert Galustyan is the former owner of “Ran Oil,” Karen Davtyan is a former deputy mayor of Yerevan, while Levan Chikovani has business ties with the family of former Prime Minister Hovik Abrahamyan and is the partner of his daughter.

Edgar Avagyan, the godfather of National Assembly Speaker Alen Simonyan’s son, is also involved in the joint business with them, and his participation has raised questions.

“Hetq” notes that Avagyan was previously engaged in television activities and had no experience in the construction sector.

In addition, back in 2017, he was declared bankrupt by a court ruling and, to this day, has not fully repaid his obligations.

According to “Hetq,” the construction is being carried out with violations: construction work began without the final positive conclusions of the necessary expert examinations.

The municipality granted permission for certain stages of the construction, bypassing the established procedures, which raises additional questions.

Around 700 apartments are planned to be built for approximately 3,000 residents, which significantly exceeds Tsaghkadzor’s current population.

Despite the issues raised, the state inspection body did not record serious violations, limiting itself to an administrative fine.

Responding to “Hetq’s” publication, Alen Simonyan denied any connection to the project and described the criticism as defamation.

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