Russia seeks to confiscate assets of businessman Vigen Sargsyan
The Krasnodar Prosecutor’s Office has filed a lawsuit with the court, demanding the confiscation of property belonging to Igor Nikolaychuk, the former Deputy Chairman of the Krasnodar Regional Court, as well as businessman Vigen Sargsyan and other individuals, in favor of the state.
According to the prosecutor, this pertains to the confiscation of property and assets acquired or used in violation of the law.
Vigen Sargsyan is a prominent businessman in Krasnodar. He is the owner of the Crown Plaza hotel in Krasnodar. The “Morskaya Simfoniya” residential complex in Sochi and other construction projects were also built with Sargsyan’s involvement.
Until December 2024, Vigen Sargsyan also owned the “Teplichny” agro-complex operating near Krasnodar; however, its shares were confiscated in favor of Russia following a lawsuit by the prosecutor’s office.
Additionally, in June 2025, the court confiscated 6.1 billion rubles from Vigen Sargsyan in favor of the state as compensation for damages caused by the illegal use of land plots in Sochi and residential development upon them.
According to the investigation, in 2018, a company affiliated with Vigen Sargsyan also illegally acquired long-term lease rights for a land plot that is considered federal property.