April 4, 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

Suspect Arrested and Charged in March 27 Hit-and-Run Death

April 4, 2025

April 4, 2025

The Victim Was on the Way to His Job at the Beverly Hills Hotel  A 20-year-old man has been arrested...

LAPD to Conduct DUI Checkpoints and Saturation Patrols Across L.A. This Weekend

April 4, 2025

April 4, 2025

Checkpoints and Saturation Patrols Target High-Risk Areas, Come With High Penalties The Los Angeles Police Department will conduct a series...

Man Arrested After Violent Robbery During Camera Equipment Meetup

April 4, 2025

April 4, 2025

One Suspect Caught, Two Still Sought in Culver City Armed Robbery A suspect connected to a recent armed robbery involving...

(Video) Adorn Your Home With Plants and Pottery from Urban Jungle

April 4, 2025

April 4, 2025

Go To Urbanjungleplantsandpottery.com For More Info Go To https://t.co/WwF5r95s90 For More Info⁠ pic.twitter.com/Ejled24yhJ — Westside Today (@WestsideLAToday) April 4, 2025

Join UCLA’s Innovative Memory Research Study!

April 3, 2025

April 3, 2025

Are you ready to contribute to groundbreaking research and help shape the future of memory treatments? Do you sometimes find...

Coming Soon: Easter Extravaganza at Regent Santa Monica Beach

April 3, 2025

April 3, 2025

Book your Delectable Brunch, Easter Festivities This Easter, step into a world of celebration and refined delight at Regent Santa Monica Beach....

Scoop Dreams Come True: Van Leeuwen Launches New Beverly Hills Shop

April 3, 2025

April 3, 2025

Van Leeuwen’s Beverly Hills Opening Comes With Sweet Perks Van Leeuwen Ice Cream, a New York City-born brand celebrated for...

WeHo’s WeHappy Wednesdays Serve Up Big Discounts In Addition to Zero Parking Fees

April 3, 2025

April 3, 2025

Free Parking and $5 Cocktails? WeHo Makes Wednesdays Worth It The City of West Hollywood and the West Hollywood Chamber...

Saijo Hand Roll Rolls into Culver City with Premium Japanese Ingredients

April 2, 2025

April 2, 2025

Binchotan-Fired Perfection: Saijo Rolls Out Premium Sushi in West LA A new destination for hand rolls and Japanese culinary craftsmanship...

(Video) Check Out Bernie’s, a New Pop Up at Citizen Public Market in Culver City

April 2, 2025

April 2, 2025

Made with fresh frozen fruit and a toasted merengue topping these flavors are irresistible. The pop up will be at...

From Cocktails to Coffee: U.S. Tariffs Threaten Imports, Jobs, and Your Grocery Bill

April 2, 2025

April 2, 2025

Major Price Hikes Expected for Coffee, Wine, Chocolate, and Butter  A sweeping new set of tariffs announced by former President...

Levain Bakery to Open Venice Location with Special Guests and Charitable Twist

April 2, 2025

April 2, 2025

Bigger Than a Cookie: Levain’s Venice Opening Is a Flavorful Fundraiser Levain Bakery, the cult-favorite cookie destination founded in New...

LAX Airport Server Finds Hate-Filled Message From Unidentified Diners

April 2, 2025

April 2, 2025

Waiter Says He Was Stunned by the Message Left by Customers Guillermo Ortiz, who works at Planet Hollywood inside the...

Sunset Strip Staple Le Petit Four Shuts Down After Landlord Pulls the Plug

April 2, 2025

April 2, 2025

End of an Era: Le Petit Four Forced to Close in West Hollywood In a stunning reversal to the upbeat...

Metro LA Pushes Back Sepulveda Transit Community Meetings

April 2, 2025

April 2, 2025

Environmental Review Delay Prompts Metro to Reschedule  Metro announced that community meetings scheduled for early April to discuss the Sepulveda...