04:59, 25 March 2026

The Cassation Court refused to review the decision to seize Vigen Sargsyan's property.

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Sochi businessman Vigen Sargsyan failed to secure a cassation court review of the decision to forfeit his property, worth over six billion rubles, to the state.

As reported by the "Caucasian Knot," Sochi businessman Vigen Sargsyan was suspected last May of fraudulently appropriating a plot of land covering almost two hectares. The Prosecutor General's Office demanded that he pay 5.7 billion rubles for illegally using former state farm land for residential development. On January 30, Sargsyan's property was transferred to the state.

On March 24, the Fourth Cassation Court of General Jurisdiction heard an appeal in a case seeking damages in favor of the state for development on protected lands in Sochi, reports Utrenny Yug.

The Civil Division found no grounds for overturning or modifying the decisions made by the lower courts; the recovery of multi-billion-dollar damages was deemed lawful and justified. Thus, Vigen Sargsyan's property, worth 6.1 billion rubles, has been transferred to the state.

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Translated automatically via Google translate from https://www.kavkaz-uzel.eu/articles/421886