April 26, 2025 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Justice Department Reaches Settlement in Corruption Case Involving Holmby Hills Mansion

Holmby Hills Property Linked to Former Armenian Official to Be Sold

The Justice Department announced today that it has reached a settlement in a civil forfeiture case involving a mansion in the Holmby Hills area of Los Angeles owned by the family of Gagik Khachatryan, a former government official from Armenia.

In 2011, a trust benefiting Khachatryan’s sons purchased the property using funds provided by an Armenian businessman. At the time, Khachatryan was the highest-ranking official overseeing taxes and customs in Armenia. While Khachatryan’s sons claimed the funds were loans from the businessman, the United States alleged that these loans, which were repeatedly extended without repayment, were actually bribe payments. These payments are also the subject of ongoing criminal prosecutions in Armenia.

Under the settlement terms, the mansion will be forfeited to the United States, which will then sell the property at the highest market price. The United States will retain 85% of the net proceeds from the sale, with the remaining 15% going to Khachatryan’s sons and a corporation they own. The Attorney General has the authority to transfer forfeited property to any foreign country involved in the seizure or forfeiture. The offices involved in this case plan to recommend that some or all of the proceeds be transferred to Armenia.

“We do not tolerate corruption in the United States, and we will not allow foreign officials to use our country to facilitate their own corruption,” said United States Attorney Martin Estrada. “Our recovery of these ill-gotten gains should send a message to corrupt officials throughout the world that they will find no safe harbor here.”

The FBI’s Eurasian Organized Crime Task Force (EOCTF) and the U.S. Marshals Service investigated the case. The EOCTF includes agencies such as the FBI, IRS-Criminal Investigation, U.S. Postal Inspection Service, Glendale Police Department, Los Angeles Police Department, and Los Angeles County Sheriff’s Department. The Justice Department’s Office of International Affairs, Armenia’s Prosecutor General’s Office, and Armenian investigative authorities also provided critical assistance.

Assistant United States Attorney Maxwell Coll of the Cyber and Intellectual Property Crimes Section and Trial Attorney Hunter Smith of the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS) prosecuted the case.

The Kleptocracy Asset Recovery Initiative, led by MLARS in partnership with federal law enforcement agencies and U.S. Attorney’s Offices, aims to forfeit the proceeds of foreign official corruption. Individuals with information about potential proceeds of foreign corruption in the United States are encouraged to contact federal law enforcement or send tips to kleptocracy@usdoj.gov or https://tips.fbi.gov.

in News
Related Posts

West Hollywood Braces for Controversial Rally, Reaffirms Commitment to Equality

April 25, 2025

April 25, 2025

City of West Hollywood Condemns Harmful Rhetoric Ahead of Planned Assembly City officials and public safety leaders in West Hollywood are preparing...

(Video) The Willows: 30 Years Going Strong

April 25, 2025

April 25, 2025

Founded in 1994, The Willows Community School, located in Culver City, California, is a Developmental Kindergarten through 8th grade non-profit, co-educational...

ASTEME Camps Explore Science, Technology, Math and Engineering

April 25, 2025

April 25, 2025

Many teachers and parents hear this question daily when it comes to schooling: “When am I ever going to use...

Skirball Center’s Puppet Festival Promises an Afternoon of Imagination and Play

April 24, 2025

April 24, 2025

SoCal’s Top Puppeteers Will Perform Alongside Live Music, DIY Puppet-Making The Skirball Cultural Center is set to transform into a...

Q&A: No Age Limit on Home Care Management & Home Safety, Tips from a Care Manager

April 24, 2025

April 24, 2025

In-home safety issues that go unnoticed — cracked sidewalks, broken railings or uneven flooring for example — are often the root...

Culver City Police Hosts DEA Drug Take Back Day on April 26

April 24, 2025

April 24, 2025

Dispose of Expired Prescriptions Safely and Anonymously The Culver City Police Department will participate in National Prescription Drug Take Back...

Former Cedars-Sinai OB-GYN Accused of Sexually Abusing Patients for Four Decades

April 24, 2025

April 24, 2025

Ten Women Say Their Reports Were Ignored as Brock Continued to Practice for Decades. A group of 10 women has...

LAX/Metro Station is One Step Closer to Transforming the Airport Commute

April 24, 2025

April 24, 2025

New Multi-Modal Metro Station Connects Angelenos to the Airport Metro Board Chair and Los Angeles County Supervisor Janice Hahn announced...

FBI Unravels Alleged Plot to Sell Stolen Andy Warhol Print in Beverly Hills

April 24, 2025

April 24, 2025

Mid-City Pawn Shop Owner Charged in High-Stakes Art Scheme The owner of a pawn shop in Los Angeles’ Mid-City neighborhood...

The Brian Jonestown Massacre Drops New Double A-Side Ahead of U.S. Tour

April 24, 2025

April 24, 2025

Legendary Psych-Rockers Set April 25 Release and Fall North American Tour The Brian Jonestown Massacre is set to release a...

(Video) Matú Kai Brentwood: The full experience

April 23, 2025

April 23, 2025

Sister restaurant to Matú in Beverly Hills, located at 11777 San Vicente Blvd. Sister restaurant to Matú in Beverly Hills,...

Uncle Stevey’s Bagels Wins Westside Hearts with Next-Level Bagels, Premium Sandwiches, and Local Coffee

April 23, 2025

April 23, 2025

Family-Run Shop Serves Delicious and Thoughtfully Curated Bagels With Love By Dolores Quintana A little more than a year since...

Santa Monica’s Socalo Toasts Pali Wine Co. with a Five-Course Culinary Celebration

April 23, 2025

April 23, 2025

Enjoy Celebrated Central Coast Wines, Including a 100-Point Red Blend Socalo, the acclaimed Mexican restaurant from celebrity chefs Mary Sue...

Go Go Bird Teams Up with Chef Chris Oh for Korean-Inspired Fried Chicken Sandwich

April 23, 2025

April 23, 2025

Crispy, Saucy, Spicy: Chris Oh’s Fried Chicken Sandwich Lands in Culver City Go Go Bird, located in Culver City’s Citizen...

Fogo de Chão Hosts Wine Lover’s Dream Night with Chilean Winery VIK

April 23, 2025

April 23, 2025

Diners Will Enjoy a Chef-Curated South American Menu, Highly Rated Wines Wine lovers and culinary connoisseurs are invited to gather...