A company co-owned by Avetis Berberyan, an assistant to Armenian President Serzh Sargsyan, plans to build a brewery and restaurant in the resort community of Arzni, in Kotayk Province.
Shares in Beter River Ltd. are registered in the name of Berberyan’s mother Yeghisabet Shmavonyan.
It’s a somewhat common practice in Armenia for government officials to register their assets and businesses under the name of close friends and family members, thus avoiding conflict of interest and other issues
Mrs. Shmavonyan failed to mention that she’s a company shareholder in her 2015 and 2016 financial disclosures. (She’s required to file as a close family member of a government official)
Avetis Berberyan was appointed a presidential assistant in January 2011. For the year, he disclosed AMD 1 billion (US$2.070 million) in revenue.
Berberyan doesn’t appear to be living solely on his official wages as presidential assistant.
Since his appointment, Berberyan has purchased and sold five luxury automobiles ranging from a $35K Toyota FJ-Cruiser to a $120K Lexus LX 570.
Berberyan has yet to file a financial disclosure for 2017.
P.S. Berberyan is also said to own the Dargett Craft Brewery in Yerevan